The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move in growth. At the time of the publication of the forecast, the rate of the US Dollar to the South African Rand is 14.68. At the moment, we should expect an attempt to test the lower boundary of the channel near the area of 14.55 and continue the growth of the pair to the area above the level of 15.15.
USD/ZAR forecast South African Rand November 1, 2018
In favor of the growth of quotations, the South African Rand will perform a test of the trend line on the indicator of relative strength index (RSI), as well as a rebound from the level of support. Cancellation of the growth option for USD/ZAR on Forex will be a fall and a breakdown of the 14.35 area, which will indicate a breakdown of the lower boundary of the channel and a continued decline in quotations to the area below the level of 13.95. It is worth waiting for the confirmation of the pair’s growth with the breakdown of the upper boundary of the «Triangle» model and closing of the USD/ZAR pair quotes above the level of 14.85.
USD/ZAR forecast South African Rand November 1, 2018 suggests an attempt to test the support area near the level of 14.55 and continue growth to the area above the level of 15.15, 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).