Currency pair US Dollar to South African Rand USD/ZAR is trading at 12.7645. The pair continues to trade 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 near the level of 12.8300 is expected to be tested near the level of 12.8300 from where it is expected to try to fall and further develop the bearish tendency for the currency pair US Dollar to South African Rand USD/ZAR with the first target near the level of 12.5600.
USD/ZAR forecast South African Rand on June 15, 2017
Earlier, a strong signal was received for the sale of the USD/ZAR, due to the crossing of the signal lines at the level of 12.8490. 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 quotes above the area of 12.9870, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/ZAR quotes is with the breakdown of the local minimum area at the level of 12.5900.
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