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.

H4-chart:

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

H1-chart:

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

Expectations:

Decline to 14.3692 with aim at further decline.

Trading recommendations:

Shorts to 14.3692 and perhaps lower.

 

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