Technical analytics

USDZAR market technical outlook

Daily chart:

Tendency for flat inside upper Bollinger bands (14.9798-15.4393 range) is still in place with certain positioning advantage of bulls, who have rising upper Bollinger band to their credit.


Local phase is downward. Bulls couldn’t break resistance at the area of upper Bollinger band (15.3100), that triggered drop in direction of round psychological level 15.0000.


Hourly lower Bollinger band is broken, that can be considered a forward-looking indicator for potential break of upward trend line at 15.2030. This will drive to overall drop of the quotes in direction 15.0847 and 15.0120.




Decline in direction 15.0847 and 15.0120.

Trading recommendations:

Shorts towards 15.0847 and 15.0120.


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