USDZAR Technical Analysis: Weekly Chart

In the weekly charts, USDZAR is trading in an up channel. USDZAR is currently trading above all SMA.

RSI is in over bought zone which indicates mild bearishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 15.7521 & the resistance level is at 16.1774.

USDZAR will trade in the up channel until there is trend reversal.

USDZAR Technical Analysis: Daily Chart

In the daily charts, USDZAR was trading in 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 15.8764 & the resistance level is at 16.1835.

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 16.0101, TAKE PROFIT AT 16.1084 AND STOP LOSS AT 15.9378