Technical analytics

USDZAR market technical outlook

 Daily chart:

Flat tendency around middle Bollinger band (14.7400-14.7500) is still in place. There are no signs of flat ending so far.


We note borders of local horizontal channel: 14.7658-14.8507 (Bollinger bands). We can trade from these lines to both sides.


Strong intraday resistance 14.7783 (upper Bollinger band) provokes downward movement at the moment, which might be capable to reach support zone 14.6758-14.6928, from where we might open long-trades again.


Decline in direction 14.6758-14.6928 and then growth towards 14.7783.

Trading recommendations:

  1. Shorts towards 14.6758-14.6928.

  2. Longs from 14.6758-14.6928 to 14.7783.