Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 12.8561. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the US Dollar to South African Rand USD/ZAR. It is expected to test the bottom of the Ichimoku Kinko Hyo Cloud boundary near the level of 12.9500, from which one should expect a fall attempt and the further development of the bearish trend for the pair US Dollar/South African Rand near the level of 12.4900.
USD/ZAR forecast South African Rand on June 8, 2017
Earlier, a medium strength signal was received for the sale of the US Dollar to South African Rand USD/ZAR, 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 quotes above the area of 13.0300, which will indicate 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
