Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 13.4992. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, indicating an upward trend in the US dollar pair South African Rand. It is expected to test the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 13.4500, from which one should expect an attempt of growth and further development of the bullish trend for the pair US Dollar South African rand near the level of 13.8200.
USD/ZAR Forecast South African Rand on May 11, 2017
Earlier, a weak signal was received for purchases of the US dollar pair South African rand, due to crossing of the signal lines at the level of 13.0887. Cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 13.3800, which will indicate a shift in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/ZAR stands with the breakdown of the local maximum area at 13.7100.
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