Currency Pair USD/ZAR US Dollar South African Rand is trading at 11.73. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the US Dollar/South African Rand. The test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 11.80, from which it is expected to attempt a rebound and continue falling of the pair with a target near the level of 11.50. An additional signal in favor of the fall of the pair will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel.
South African Rand forecast USD/ZAR February 21, 2018
Earlier, a medium strength signal was received for the sell of the pair USD/ZAR, due to the crossing of the signal lines at the level of 11.99. The cancellation of the fall of the quotes of the pair will be a breakdown of the upper boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes above the area of 11.95, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/ZAR quotes is with the breakdown of the support area and the closing below the level of 11.52.
