. USDZAR TECHNICAL ANALYSIS, FORECAST AND TRADE SIGNALS

USDZAR TECHNICAL ANALYSIS, FORECAST AND TRADE SIGNALS

14 Jun 2022

USDZAR Technical Analysis: Weekly Chart

USDZAR Technical Analysis

In the weekly charts, USDZAR was trading in a down channel. USDZAR is currently trading above all SMA.

RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 15.6994 & the resistance level is at 16.3350.

USDZAR was trading in the down channel before there is breakout upside.

USDZAR Technical Analysis: Daily Chart

USDZAR Technical Analysis

In the daily charts, USDZAR was trading in a down channel. USDZAR is currently trading above all SMA.

RSI is in buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 15.9739 & the resistance level is at 16.1833.

USDZAR was trading in the down channel before there is breakout upside. 

How to Trade USDZAR this Week:

USDZAR will follow the uptrend until their trend reversal. So, remain bullish on USDZAR.

TRADE SUGGESTION- BUY AT 16.0697, TAKE PROFIT AT 16.1833 AND STOP LOSS AT 15.9739