The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move as part of growth. At the time of the publication of the forecast, the course of the US Dollar to the South African Rand is 14.36. At the moment, we should expect an attempt to test the upper boundary of the channel near the 14.15 area and continue the growth of the pair to the area above the level of 14.95 within the framework of the start of working out the «Head and Shoulders» reversal pattern.
USD/ZAR forecast South African Rand October 3, 2018
In favor of the growth of quotations, the South African Rand will test the area of support on the indicator of relative strength index (RSI). Cancellation of the USD/ZAR growth option at Forex will be a strong growth and a breakdown of the area of 14.00, which will indicate a breakdown of the support area and a continued decline in quotations to the area below the level of 15.05. It is worth waiting for the confirmation of the pair growth with the breakdown of the resistance area and closing of the USD/ZAR quotes above the level of 14.55.
USD/ZAR forecast South African Rand October 3, 2018 suggests an attempt to test the support area near the level of 14.15 and continue to grow to the area above the level of 14.95, 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).
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