Technical analytics

USDZAR market technical outlook

Daily chart:

Tendency for potential accumulation above middle Bollinger band (14.9884) is still in place. Proximity of psychological round level 15.0000 allows to regard it a support zone. Most likely they’ll continue to buy the pair from this area. 


We note strong local support at the area of lower Bollinger band (15.0704), which provokes development of upward wave in direction 15.2916.


Local resistance level resides at upper Bollinger band (15.2208). Bulls hardly will be able to go above it, therefore the main expectation today will be a continuation of flat in the 15.0704-15.2208 range.


Flat in the 15.0704-15.2208.

Trading recommendations:

Trades to both sides in the 15.0704-15.2208 channel.


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