Technical analytics

USDZAR market technical outlook

Daily chart:

Decline of the quotes continues in direction of dynamic support 14.6411 (lower Bollinger band), from where we can expect upward bounce as ADX doesn’t have trending power sufficient for the break.


Extremely weak ADX activity also speaks for scenario of continuation of flat inside lower Bollinger bands (14.6887-14.7845).


Short-term tendency is downward. Bears broke lower Bollinger band allowing to go short from middle band (14.7504).


Pullback towards 14.7504 and then decline in direction 14.6887.

Trading recommendations:

Shorts from 14.7504 to 14.6887.


New articles