USDZAR Technical Analysis: Weekly Chart
In the weekly charts, USDZAR was trading in a down channel. USDZAR is currently trading above all SMA.
RSI is in the buying zone which indicates bullishness. MACD is currently above zero which indicates bullishness.
Its immediate support is 15.3530 & the resistance level is at 15.6665.
USDZAR was trading in the down channel before there is breakout upside.
USDZAR Technical Analysis: Daily Chart
In the daily charts, USDZAR is trading in a down channel. USDZAR is currently trading above 100 days SMA & below 20 and 50 days SMA.
RSI is in over sold zone which indicates mild bullishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 15.3920 & the resistance level is at 15.6333.
USDZAR will trade in the down channel until there is trend reversal.
How to Trade USDZAR this Week:
USDZAR will follow the downtrend until their trend reversal. So, remain bearish on USDZAR.
