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 US Dollar rate to the South African Rand is 14.47. At the moment, we should expect an attempt to reduce and test the support level near the area of 14.30. Further, the pair continues to grow to an area above the level of 15.05.
USD/ZAR forecast South African Rand January 4, 2019
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 rising channel. Cancellation of the growth option USD/ZAR on FOREX will be the fall and the breakdown of the area 14.10. This will indicate a breakdown of the lower boundary of the channel and the continuation of lowering quotations to the area below the level of 13.60. It is worth waiting for the confirmation of the pair’s growth with the breakdown of the resistance area and closing of the USD/ZAR quotes above the level of 14.70.
USD/ZAR forecast South African Rand January 4, 2019 suggests an attempt to test the support area near the level of 14.30. Further, the continuation of growth in the region above the level of 15.05. 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 14.10.