The currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 13.7417. The pair continues to trade above the upper limit of the Ichimoku Cloud, indicating an upward trend in the US dollar pair South African Rand. It is expected to test the upper boundary of the Ichimoku Cloud near the level of 13.57000, from which one should expect an attempt of growth and development of the bullish tendency for the pair with a target of growth to the level of 14.0200.
Ichimoku Kinko Hyo USD/ZAR Forecast on April 10, 2017
Earlier, a weak signal was received for purchases of the US dollar pair South African Rand, smoothly turning into a signal of medium strength, due to the intersection of signal lines at the level of 12.5500. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 13.2000, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/ZAR stands with the breakdown of the local maximum area at 13.8500.
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