Rand triangle

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The US Dollar looks like it is forming a triangle against the South African rand. Breakout above the upper border would signal continuation of the advance — with a target of R9.00* — while breach of the secondary trendline would warn of a correction to the longer-term trendline (at 7.35).

USDZAR

* Target calculation: 8.30 + ( 8.50 – 7.70 ) = 9.10