Technical analytics

USDZAR market technical outlook

Daily chart:

Bears has pierced support 14.4928 (lower Bollinger band), but given weak ADX there is a probability of pullback to this level, that will let traders get better sell entry points.


Locally we can observe active pressure of bears, therefore we can consider only shorts on such market.


We note intraday support, where decline can slow down. It’s lower Bollinger band (14.3692).


Decline to 14.3692 with aim at further decline.

Trading recommendations:

Shorts to 14.3692 and perhaps lower.