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

Its immediate support is 16.3933 & the resistance level is at 16.9520.

USDZAR will trade in an up channel until there is trend reversal

USDZAR Technical Analysis: Daily Chart

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

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 16.5492 & the resistance level is at 16.7076

USDZAR will trade in 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 16.6250, TAKE PROFIT AT 16.5492 AND STOP LOSS AT 16.7076