Currency pair US Dollar South African Rand USD/ZAR is trading at the level of 13.0724. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the US Dollar/South African Rand. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 13.1400, from which it is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 12.9200.
Technical analysis & forecast USD/ZAR on June 2, 2017
Earlier, a weak signal was received for buying of the US Dollar South African Rand USD/ZAR, due to crossing of the signal lines at the level of 12.9227. Consider buying is worthwhile with the breaking of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing of quotes above the level of 13.2100, in the case of breaking through the lower boundary of the Ichimoku Kinko Hyo Cloud, we should expect the continuation of the bearish trend in USD/ZAR.
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