Technical analytics

USDZAR market technical outlook

 Daily chart:

Currency pair is getting support at 14.5081 so far, that may let market retrace in direction of middle Bollinger band (14.7491).


Low local trending potential limits trading range by the scope of lower Bollinger band (14.5347-14.7562).


On hourly chart ADX readings drop as well, therefore the asset most likely won’t move below 14.5347 mark today.


Decline towards 14.5347 and then upward bounce in direction 14.6000.

Trading recommendations;

  1. Shorts to 14.5347.

  2. Longs from 14.5347 to 14.6000.