The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move in the framework of the upward correction. At the time of the publication of the forecast, the rate of the US Dollar to the South African Rand is 14.44. At the moment, we should expect an attempt to test the upper limit of the descending channel near the 14.55 area. And then the continuation of the decline in the pair to the area below the level of 13.85.
USD/ZAR forecast South African Rand November 14, 2018
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 lower boundary of the bearish channel. Cancellation of the option of falling USD/ZAR at Forex will be a strong growth and the breakdown of the area of 14.80. This will indicate a breakdown of the upper boundary of the downward channel and the continuation of the growth of quotations in the area above the level of 15.10. 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 14.25.
USD/ZAR forecast South African Rand November 14, 2018 suggests an attempt to test the resistance area near the level of 14.55. Then the continuation of the decline in the area below the level of 13.85. An additional signal in favor of the pair falling on Forex will be a test of the trend line on the relative strength index (RSI). Cancellation option for the fall of the US Dollar against the South African Rand will be a strong growth and the breakdown of the level of 14.80.
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