The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move in decline. At the time of the publication of the forecast, the exchange rate of the US Dollar to the South African Rand is 13.86. At the moment, we should expect an attempt to reduce and test the support level near the 13.65 area. Further, the pair continues to grow to an area above the level of 14.50.
USD/ZAR forecast South African Rand December 6, 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 the formation of the bullish model «Wolfe Wave». Cancellation of the growth option USD/ZAR on Forex will be a fall and a breakdown of the 13.20 area. This will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 12.80. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/ZAR pair quotes above the level of 14.00.
USD/ZAR forecast South African Rand December 6, 2018 implies an attempt to test the support area near the level of 13.65. Further, the continuation of growth in the region above the level of 14.50. 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 14.50.