The Currency pair US Dollar South African rand USD/ZAR is trading at the level of 12.32123. The pair continues to trade below the lower limit of the Ichimoku Cloud, indicating a downward trend in the US dollar pair South African rand. A test of signal lines near the level of 12.42000 is expected, from which one should expect an attempt to fall and develop a bearish trend for this pair in order to reduce the level of 12.15000.
Ichimoku Kinko Hyo forecast USD/ZAR on March 28, 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 12.90000, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD/ZAR quotes with a breakdown of the local minimum area at the level of 12.29000.
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