USD/ZAR has maintained its uptrend throughout the third quarter of 2022. Analysts at Credit Suisse see potential to reach the all-time high at 19.3446.

Uptrend from April at 16.8571 to curb any correction lower

“We expect a solid break above 18.0709 to eventually take place, though we think there is certainly room for further ascent to follow towards the all-time high at 19.3446.”

“We look for the uptrend from April at 16.8571 to curb any deeper correction lower to keep the upside pressure in place.”