Technical analytics

USDZAR market technical outlook

Daily chart:

Any rise of the quotes can be used for the search of new selling opportunities as lower Bollinger band (14.4051) still wasn’t tested.

H4-chart:

Low activity of ADX indicator limits decline potential by support 14.5200 (lower Bollinger band).

H1-chart:

We note borders of intraday flat 14.5908-14.6412 (Bollinger bands). Weak ADX activity is observed on all time-frames, therefore tendency for flat appears to remain in place.

 

Expectations:

Flat in the 14.5908-14.6412 range.

Trading recommendations:

  1. Short-term trades inside the 14.5908-14.6412 channel.

  2. Mid-term shorts in direction 14.4051.

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