Technical analytics

USDZAR market technical outlook

Daily chart:

Scenario with growth of the quotes in direction of upper Bollinger band (15.0467) pans out. Probability of reaching this target is very high.


Readings of local ADX didn’t enter trending zone, therefore there is a probability of one more downward pullback. Such pullback might be utilized for new long-trades only. The closest target is 14.9800.


We have tangible intraday dynamics and we see an attempt to break upper Bollinger band. In case bulls succeed we get one more solid attribute of further growth.


Growth towards 14.9800 with aim at resistance 15.0467.

Trading recommendations:

Longs to 14.9800 and 15.0467.


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