USDZAR ANALYSIS
USDZAR is in downtrend
Price broke neckline of double top pattern at level 16.8078 with strong bearish movement
Price is based below HVN at level 16.6595 which indicates pair is in distribution phase
Below SMA 100
MACD shows weakness in bullish momentum
RSI is below level 50
It's expected going down towards support level at 16.4025 as classical target from double top pattern
then finally target demand zone at level 16.0900
Price broke neckline of double top pattern at level 16.8078 with strong bearish movement
Price is based below HVN at level 16.6595 which indicates pair is in distribution phase
Below SMA 100
MACD shows weakness in bullish momentum
RSI is below level 50
It's expected going down towards support level at 16.4025 as classical target from double top pattern
then finally target demand zone at level 16.0900
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