Technical analytics

USDZAR market technical outlook

Daily chart:

Quite intensive entrance of the price to the lower Bollinger bands is in progress. This opens room for further mid-term decline of the quotes in direction of 14.6070 (lower Bollinger band).


A very strong trending ADX speaks to domination of sellers and probable break of support at 14.9251.


On hourly chart also an intensive downward wave develops on the back of active ADX. We consider only shorts with target at 14.6070.


Decline in direction 14.6070.

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