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 rate of the US Dollar to the South African Rand is 13.85. At the moment, we should expect an attempt to test the upper limit of the descending channel near the area of 13.90. Further, the continuation of the fall of the pair in the area below the level of 13.35.
USD/ZAR forecast South African Rand November 28, 2018
In favor of reducing the quotes, the South African Rand will test the trend line on the relative strength index (RSI). Cancellation of the option to reduce the USD/ZAR at Forex will be a strong growth and a breakdown of the 14.00 area. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of quotations in the area above the level of 14.40. Waiting for confirmation of the pair’s decline is with the breakdown of the lower border of the channel and closing of the USD/ZAR quotes below the level of 13.50.
USD/ZAR forecast South African Rand November 28, 2018 suggests an attempt to test the resistance area near the level of 13.90. Further, the continuation of the fall in the area below the level of 13.35. An additional signal in favor of reducing the pair at 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 level of 14.00.
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