The currency pair of the US Dollar vs South African Rand USD/ZAR continues to move in the framework of strong growth. At the time of publication of the forecast, the exchange rate of the US Dollar to the South African Rand is 14.70. At the moment, we should expect an attempt to test the lower boundary of the channel near the area of 14.35 and continue the growth of the pair to the area above the level of 15.40.
USD/ZAR forecast South African Rand October 5, 2018
The South African Rand will test the broken trend line on the relative strength index (RSI) in favor of the growth of quotations. 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 13.55. It is worth waiting for the confirmation of the pair’s growth with the breakdown of the resistance area and closing of the USD/ZAR quotes above the level of 14.80.
USD/ZAR forecast South African Rand October 5, 2018 suggests an attempt to test the support area near 14.35 and continue to grow to the area above 15.40, an additional signal in favor of the pair on Forex will be a test of the trend line on the relative strength index (RSI), canceling the growth option the US Dollar against the South African Rand will fall and the breakdown level of 14.00.
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