• USD/ZAR rally picks-up momentum, rallies to monthly highs by 12.6349
  
  
• The pair easily broke past Jul 8/9 highs, momentum is bullish
  
  
• China slowdown, weak economy and SARB hiking weigh on ZAR
  
  
• At the time of writing the pair has erased some gains and is trading at 12.6112
  
  
• Tenkan line is pointing north, suggesting more gains for USD/ZAR, caution advised, Stochs are at Overbought levels
  
  

Resistance Levels:

R1: 12.6375 (Daily High Jun 8)

R2: 12.6600 (2015 High Jun 5)

R3: 13.8400 (Daily High Dec 20 2001)

Support Levels: 

S1: 12.4595 (Session Low Jul 24)

S2: 12.3750 (Daily Low Jul 23)

S3: 12.3100 (Daily Low Jul 22)