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.

H4-chart:

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

H1-chart:

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

Expectations:

Decline in direction 14.6520 and 14.5974.

Trading recommendations:

Shorts towards 14.6520 and 14. 5974.

 

New articles