Fundamental

The interest rate differential continues to be a mainstay of this pair, as we are levitating into the weekend, looking bullish overall.

The Australian dollar rallied a bit in the early hours of Friday, as the Aussie looks to rally into the weekend. The range continues to be well-defined, with the 0.79 level and the 0.81 level both offering important barriers.

The USD/ZAR has hovered near the key metric of 16.00000 since Friday and upon opening this week the currency pair is traversing slightly below the barometer around 15.99910, but this depends on the bids and asks being displayed by brokers.

The Nasdaq 100 rallied a bit on Friday, as we continue to see a lot of buyers jumping into the US stock markets, and it’s likely we will continue to see upward momentum.

The $5,000 level is looming large at this point in time, as the rally on Friday has been rather impressive to say the least.

The German DAX continues to see a lot of upward pressure overall, and at this point in time, I think we are more likely than not in the midst of trying to find our bottom.