Currency pair US Dollar to South African Rand USD/ZAR is trading at 13.0592. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the currency pair. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 13.1000, from which it is expected to try to fall and further develop the bearish trend for the pair US Dollar to South African Rand USD/ZAR near the level of 12.5390.
Forex forecast & analysis USD/ZAR on May 31, 2017
Previously, a strong signal was received for the sale of the USD/ZAR, due to the crossing of the signal lines at 13.3039. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of the pair’s quotations above the area of 13.2200, indicating a change in the downward trend in favor of the bullish trend. Expect to accelerate the fall in quotations USD/ZAR stands with the breakdown of the local minimum area at 12.6500.
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