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 exchange rate of the US dollar to the South African Rand is 13.91. At the moment, we should expect an attempt to grow and test the resistance level near the area of 14.10. Further, the continuation of the fall of the pair in the area below the level of 13.50.
USD/ZAR forecast South African Rand January 8, 2019
In favor of falling quotes, 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 bullish channel. Cancellation option for falling USD/ZAR on Forex will be a strong growth and the breakdown of the area 14.30. This will indicate a breakdown of the lower boundary of the channel and the continuation of growth of quotations in the area above the level of 14.60. Waiting for confirmation that the pair is falling is with the breakdown of the support area and closing of the USD/ZAR quotes below the level of 13.75.
USD/ZAR forecast South African Rand January 8, 2019 suggests an attempt to test the resistance area near the level of 14.10. Further, the continuation of the fall in the area below the level of 13.50. An additional signal in favor of reducing the pair on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to reduce the US Dollar against the South African Rand will be a strong increase and the breakdown level of 14.30.