Based on the recent fluctuations in the exchange rate between the US dollar (USD) and the Zambian kwacha (ZMW), it's evident that there has been volatility in the currency pair. The exchange rate dropped from 1 USD to 27.18 ZMW to 1 USD to 26.90 ZMW, indicating some instability. However, more recently, there has been a further drop to 1 USD to 25.35 ZMW.
My previous analysis suggested a bearish correction for the Zambian kwacha, with the potential for it to return to a support level around 1 USD to 22.63 ZMW in the coming months. Despite the recent drop, i still anticipate further depreciation of the ZMW against the USD based on technical analysis.
My previous analysis suggested a bearish correction for the Zambian kwacha, with the potential for it to return to a support level around 1 USD to 22.63 ZMW in the coming months. Despite the recent drop, i still anticipate further depreciation of the ZMW against the USD based on technical analysis.
