Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 13.2167. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in the pair US Dollar to South African Rand. The pair is expected to rise USD/ZAR near the level of 13.3700, from which it is expected to try to fall and further develop the bearish trend for the pair US Dollar to South African Rand with target level of 13.0000.
USD/ZAR forecast South African Rand on May 16, 2017
Earlier, a weak signal was received for the sale of the US dollar pair South African Rand, due to the intersection of the signal lines at the level of 13.5492. Cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of the pair quotes above the area of 13.5800, which will indicate a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD/ZAR quotes with a breakdown of the local minimum area at 13.1200.