Technical analytics

USDZAR market technical outlook


Daily chart:

Currency pair retained upward bullish potential causing active growth of the quotes. We see the pair at new highs and the growth might have further extension!


Upper Bollinger band is broken pointing to a high probability of the quotes’ growth extension on the back of rising ADX readings. Possible targets are 15.3500 and 15.4000.  


On hourly chart ADX didn’t reach trend zone so far making possible prior pullback to 15.2307-15.2650. Thus it’s an optimal zone for long trades today.


So, we expect a pullback to 15.2307-15.2650 and then continuation of growth in direction 15.3500 and 15.4000.

Trading recommendations:

Longs from 15.2307-15.2650 to 15.3500 and 15.4000.

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