. USDZAR Technical Analysis, Trade Signals and Tips - Capital Street Fx

USDZAR Technical Analysis, Trade Signals and Tips

03 Jun 2022

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.

TRADE SUGGESTION- SELL AT 15.4899, TAKE PROFIT AT 15.3602 AND STOP LOSS AT 15.6079