Currency pair US Dollar to South African Rand USD/ZAR completed the trading week at 12.9270. 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. The pair USD/ZAR is expected to close near the level of 13.1200, from which it is expected to try to fall and further develop the bearish trend for the pair US Dollar/South African Rand near the level of 12.4200.
USD/ZAR weekly forecast June 12 — 16, 2017
Earlier, a medium strength signal was received for the sale of the pair US Dollar South African Rand, due to the crossing of the signal lines at the level of 13.2800. 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 13.5200, which indicates 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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