Technical analytics

USDZAR market technical outlook

Daily chart:

Downward wave is directed towards support 14.5374 (lower Bollinger band) where we can expect an upward bounce as market doesn’t possess a potential for a break, that is indicated by weak flat ADX.


Another support at 14.6569 is broken. Bears keep control over the situation at the moment, therefore we can expect active movement in direction 14.5374.


Intraday ADX indicator resides in a weak zone, therefore there is a probability of upward pullback to pivot-level 14.6784, that gives traders an opportunity to get optimal sell points towards 14.5374.



Main scenario: Upward pullback to 14.6784 and then decline in direction 14.5374.

Alternative scenario: Direct decline to 14.5374.

Trading recommendations:

  1. Shorts from 14.6784 to 14.5374.

  2. Longs from 14.5374.

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