Currency pair US Dollar to South African USD/ZAR continues to move in correction. At the time of publication of the forecast, the exchange rate of the US Dollar to the South African Rand is 14.19. At the moment, we should expect an attempt to test the support level near the 13.85 area. Then the pair continues to grow to an area above the level of 15.60.
USD/ZAR weekly forecast & analysis November 19 — 23, 2018
In favor of the growth of quotations, the South African Rand will test the trend line on the indicator of relative strength index (RSI). As well as the formation of the head and shoulders reversal pattern. Cancellation of the growth option USD/ZAR on Forex will be a fall and a breakdown of the 13.65 area. This will indicate a breakdown of the support level and a continued decline in quotations to the area below the level of 12.85. 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 14.65.
USD/ZAR weekly forecast & analysis November 19 — 23, 2018 suggests an attempt to test the support area near the level of 13.85. Further growth continues to the area above the level of 15.60. 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). Cancellation of growth options for the US Dollar against the South African Rand will be the fall and the breakdown of the level of 13.65.
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