Riding the Wave back to SupportUS Dollar/South African RandFX:USDZARKhoraCapitalThe structure on USDZAR is looking heavy. After that complex corrective bounce to Point (E), we’ve hit a solid wall at the 17.10 resistance zone. The rejection there was clean, and now the technicals are pointing toward a move back down to test the major support floor. The Strategy: I’m trading the space between the lines here—specifically the move from this upper resistance back down to the 15.70 support level. The wave count confirms we are in a continuation phase, and the path of least resistance is definitely lower. The Fundamental Backing: It’s not just the charts; the macro is lining up too. The SARB’s hawkish stance is acting as a massive tailwind for the Rand. With the Reserve Bank signaling they’re ready to hold (or even hike) to keep inflation in check, the ZAR is becoming a favorite for the carry trade again. We are just playing the levels and letting the wave theory do the work. #USDZAR #ZAR #Forex #ElliottWave #TechnicalAnalysis #SARB