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. 

H4-chart:

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

H1-chart:

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.

Expectations:

Flat in the 15.0704-15.2208.

Trading recommendations:

Trades to both sides in the 15.0704-15.2208 channel.

 

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