The currency pair of the US Dollar South African Rand USD/ZAR continues to move within the ascending channel. At the time of the publication of the forecast, the USD rate to the South African Rand is 13.80. At the moment, we should expect an attempt to fall and a test of the support level near the area of 13.70. Further, the continued growth of the pair in the area above the level of 14.70.
USD/ZAR forecast South African Rand January 16, 2019
In favor of the growth of quotations, the South African Rand will break the bearish trend line on the relative strength index (RSI). Cancellation of the growth option USD/ZAR on Forex will be a fall and a breakdown of the 13.55 area. This will indicate a breakdown of the lower boundary of the channel and a continuation of the decline in quotations to the area below the level of 13.05. Expect confirmation of the pair is rising with the breakdown of the resistance area and closing of the USD/ZAR quotes above the level of 14.15.
USD/ZAR forecast South African Rand January 16, 2019 suggests an attempt to test the support area near the level of 13.70. Further, the continuation of growth in the region above the level of 14.70. An additional signal in favor of the pair growth at Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of growth options for the US dollar against the South African Rand will be the fall and the breakdown of the level of 13.55.