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 14.27. At the moment, we should expect an attempt to test the upper boundary of the channel near the area of 14.45 and continue to reduce the pair to the area below the level of 14.05.
USD/ZAR forecast South African Rand October 17, 2018
In favor of falling quotes, the South African Rand will test the trend line on the indicator of relative strength index (RSI). Cancellation of the option to reduce USD/ZAR on Forex will be a strong growth and a breakdown of the 14.55 area, which will indicate a breakdown of the upper boundary of the channel and the continued growth of quotations in the area above the level of 14.75. 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 14.20.
USD/ZAR forecast South African Rand October 17, 2018 suggests an attempt to test the resistance area near the level of 14.45 and continue falling to the area below the level of 14.05, an additional signal in favor of reducing the pair at Forex will be a trend line test on the relative strength index (RSI), canceling the reduction option the US Dollar against the South African Rand will be strong growth and the breakdown level of 14.55.