Technical analytics

USDZAR market technical outlook

Daily chart:

Currency pair remains in a flat inside wide range 14.5518-15.0831. At the same time we almost don’t see touches of the side walls, that complicates the search of mid-term trades. All events go around middle Bollinger band (14.8107), therefore traders should dip into junior time-frames to take some trade moves. 

H4-chart:

Weak local ADX may confine trading range inside Bollinger bands (14.6796-14.8461).

If bulls manage to break resistance 14.8461, we might get a short-term upward momentum to 14.9793 (watch the red arrow).

H1-chart:

We have a triangle upward consolidation in the range between short-term trend line (support 14.7746) and resistance at the area of upper Bollinger band (14.8358).

Expectations:

Flat in the 14.7746-14.8358 range.

Trading recommendations:

Trades to both sides inside the 14.7746-14.8358 range.

 

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