The USDZAR pair has found a very solid support in the 11.7000 territories as seen on the provided daily chart.
This support has assisted short-term bulls to take the pair above Ribbons lines-EMA10 to 80- and assisted momentum indicator-RSI14- to trade above the value of 50.00.
Eyes are now on the peak recorded on April 23 at 12.2880, as a break above it will expose the short-term peak of 12.5125.
It is worth mentioning that, Aroon-trend indicator- remains positive, indicating potential breakout above April 23 highs.
Of note, the USDZAR pair is a very quick mover; thus, we should decrease the equity used to trade it to the minimum.