USDZAR possible top out

USDZAR has broken the R14.50 pivotal level quite substantially last week and closed the week just below another important level of R15.00. The coronavirus has really placed a dampener on the risk being taken in the market and thus USDZAR has sold off. If we have a close above the R15.00 level we can possibly have a test back at the R15.12 level, but the market does feel a bit toppish. A close below R14.84 can put a retest of R14.60 back on the cards. We would favour a bit of a retracement for now.