USDZAR: WEEKLY SCENARIO

Technical Analysis

USDZAR Technical Analysis: Weekly Chart

In the weekly charts, USDZAR is trading in an up channel.

It is trading below 20 and 100 days SMA & above 50 days SMA.

The immediate support is 15.0415 & the resistance level is at 15.7126.

USDZAR is trading in the up channel until there is a trend reversal

USDZAR Technical Analysis: Daily Chart

In the daily charts, USDZAR is trading in a down channel.

It is trading below all SMA.

The immediate support is 15.2093 & the resistance level is 15.4141.

USDZAR is trading in the down channel until there is a 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 15.3167, TAKE PROFIT AT 15.2093 AND STOP LOSS AT 15.4141

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