Where to from here?

USDZAR traded up at R16.96 overnight in very illiquid markets as the crash in the oil price caused havoc. The rest of the emerging market space is also being hammered. The market is now in panic mode in these times, it is difficult to call tops and bottoms. If the trend continues the USDZAR can easily go a test the previous high of R17.50 but can just as easily make a pullback to the R15.20's levels. For now hold on for a bumpy ride.