The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move within the limits of the decline. At the time of publication of the forecast, the US Dollar rate for the South African Rand is 14.11. At this point, we should expect an attempt to test the upper border of the channel near the area of 14.20 and continue the fall of the pair into the area below the level of 13.75.
USD/ZAR forecast South African Rand October 2, 2018
In favor of falling prices, South African Rand will test the trend line on the indicator of relative strength index (RSI). Canceling the USD/ZAR decline on Forex will be a strong growth and breakdown of the area of 14.40, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations in the area above the level of 15.05. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of the quotes of the pair USD/ZAR below the level of 13.90.
USD/ZAR forecast South African Rand October 2, 2018 involves trying to test the resistance area near the level of 14.20 and continuing to fall below the level of 13.75, an additional signal in favor of reducing the pair on Forex will test the trend line on the indicator of relative strength index (RSI).
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