Technical analytics

USDZAR market technical outlook

Daily chart:

The currency pair is being traded at the area of middle Bollinger band (14.8747), where we have resistance, which guards market from move to the upper bands. In case of break we might expect growth and testing of 15.1672.

H4-chart:

Local growth goes inside upper Bollinger bands on the back of very weak ADX. Thus we can expect touch of 14.9933 (upper Bollinger band) and following downward reversal to the pivot-level 14.8974.

H1-chart:

Intraday dynamics also corresponds to further flat scenario. Trading range is 14.8747-14.9596 (Bollinger bands).

Expectations:

Flat in the 14.8747-14.9596 range.

Trading recommendations:

Short-term trades in the 14.8747-14.9596 channel.

 

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