The currency pair US Dollar South African Rand USD/ZAR is trading at 12.5531. The pair is trading below the lower boundary of the Ichimoku Cloud, indicating a downward trend in the US dollar pair South African rand. It is expected to test the lower boundary of the Ichimoku Cloud near the level of 12.6500, from which one should expect an attempt to fall and develop a bearish trend for this pair in order to reduce the level of 12.3900.
Ichimoku Kinko Hyo Forecast USD/ZAR on March 24, 2017
Earlier, a weak signal was received for the sale of the US dollar pair South African rand, due to the intersection of the signal lines at the level of 13.1500. The abolition of the reduction option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotes above the area of 13.00, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD/ZAR quotations with a breakdown of the local minimum area at 12.4800.
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