Fundamentals played a role by pushing the price down to 13.41, firstly it was the meeting minutes between the new South African finance minister with Investors which saw the ZAR gain strength from 13.71 to 13.61 after the minister showed some confidence to the investors. The second was the statement from the Us President about the dollar and Yellen which made the US dollar loose strength and push the ZAR to 13.41 overnight. I am still short term bullish on this pair due to the politics that is currently happening in S.A but technically i am Long term Bearish. I do not think the investors are that much convinced yet , I will be convinced of the bullish long term only when the last rating agency release their results about the South African Economy status. So far two of the agencies have rated South Africa to Junk Status and only one remains. I am still holding my short term long positions on this pair.
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