The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move within the bullish channel. At the time of publication of the forecast, the US Dollar rate for the South African Rand is 15.12. At this point, we should expect an attempt to test the support level near the area of 14.90 and continue the growth of the pair in the area above the level of 16.10.
USD/ZAR forecast South African Rand September 12, 2018
In favor of the growth of quotations South African Rand will test the bullish trend line on the indicator of relative strength index (RSI). The cancellation of the USD/ZAR growth scenario on Forex will be a strong fall and breakdown of the area of 14.45, which will indicate the breakdown of the lower border of the channel and the continuation of the fall of quotations in the area below the level of 14.05. To expect confirmation of the growth of the pair is with the breakdown of the resistance area and the closing of the USD/ZAR pair quotations above the level of 15.25.
USD/ZAR forecast South African Rand September 12, 2018 involves trying to test the support area near the level of 14.90 and continuing growth in the area above the level of 16.10, an additional signal in favor of the pair’s growth on FOREX will test the trend line on the indicator of relative strength index (RSI).
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