The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move in correction. At the time of publication of the forecast, the exchange rate of the US Dollar to the South African Rand is 14.28. At the moment, we should expect an attempt to decrease and test the support level near the 14.20 area. Further, the continued growth of the pair in the area above the level of 14.85.
USD/ZAR forecast South African Rand December 20, 2018
In favor of the growth of quotations, the South African Rand will test the trend line on the indicator of relative strength index (RSI). As well as a rebound from the lower boundary of the model «Triangle». Cancellation of the growth option USD/ZAR on Forex will be the fall and the breakdown of the area 14.05. This will indicate a breakdown of the channel boundary and a continued decline in quotations to the area below the level of 13.55. It is worth waiting for the confirmation of the pair growth with the breakdown of the upper boundary of the «Triangle» model and closing of the USD/ZAR pair quotes above the level of 14.55.
USD/ZAR forecast South African Rand December 20, 2018 suggests an attempt to test the support area near the level of 14.20. Further, the continuation of growth in the region above the level of 14.85. 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 level of 14.05.
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