Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 12.7958. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the US Dollar/South African Rand. Ichimoku Kinko Hyo Cloud is expected to test near the level of 12.8700, from which it is expected to attempt a fall and further development of the bearish trend for the pair USD/ZAR near the level of 12.4600.
USD/ZAR forecast & analysis June 5, 2017
Earlier, a medium strength signal was received for the sale of the US Dollar to South African Rand, due to the crossing of the signal lines at the level of 12.9880. 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 quotations above the area of 13.0700, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/ZAR quotes with a breakdown of the local minimum area at the level of 12.5600.
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