USDZAR - Price Action Daily Analysis

Daily price is on ranging around 200 SMA within 16.66/17.22 s/r channel waiting for the direction, and the Stochastic oscillator is indicating the overbought market condition. If the price breaks support level at 16.66 to below so the primary daily bearish trend will be resumed. If the price crosses 17.22 resistance level to above so the primary daily bullish reversal will be started. Alternatively, the price will be on ranging waiting for direction of the strong trend to be started. Recommendation: waiting for direction