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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
