Technical analytics

USDZAR market technical outlook

 Daily chart:

Currency pair continues lengthy accumulation of potential inside lower Bollinger bands (14.5069). In case of move to the upper bands bulls would get the room for growth to the 14.9175 region.


Local upward phase of the movement is limited by dynamic resistance 14.6781 (upper Bollinger band), where we can get a new round of short-term sell-offs towards middle band (14.5558).


Weak flat readings of ADX suggest potentially limited trading range inside Bollinger bands (14.5986-14.6454). 


Flat in the 14.5986-14.6454 range.

Trading recommendations:

Short-term trades to both sides in the 14.5986-14.6454 channel.

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