USD/ZAR WEEKLY TECHNICAL ANALYSIS & SIGNALS

forex technical analysis

USDZAR Technical Analysis: Weekly Chart

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

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

The immediate support is 14.9611 & the resistance level is at 15.3535.

USDZAR is trading in the down channel until there is a trend reversal.

USDZAR Technical Analysis: Daily Chart

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

It is trading below all SMA.

The immediate support is 15.0123 & the resistance level is 15.2019.

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 15.1409, TAKE PROFIT AT 15.0123 AND STOP LOSS AT 15.2019

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