Technical analytics

USDZAR market technical outlook

Daily chart:

Accumulation of potential under middle Bollinger band (14.9062) is in progress. Support is at 14.5820. Moves in the range are quite chaotic.


We note strong local support level 14.5974 (lower Bollinger band). Potential of ADX is quite small, therefore break is unlikely.


Intraday supports where a downward wave might be directed today are 14.6520 and 14.5974.


Decline in direction 14.6520 and 14.5974.

Trading recommendations:

Shorts towards 14.6520 and 14. 5974.


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