Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 12.8818. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the pair US Dollar/South African Rand. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 12.9400, from which it is expected to attempt a fall and further development of the bearish trend for the pair US Dollar/South African Rand near the level of 12.5500.
USD/ZAR forecast South African Rand on June 9, 2017
Earlier, we received a weak signal for buying of the pair US Dollar/South African Rand, due to the crossing of the signal lines at the level of 12.8110. 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 quotations with a breakdown of the local minimum area at the level of 12.6000.
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