Currency pair US Dollar to South African Rand USD/ZAR is trading at the level of 13.0580. 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 USD/ZAR. The pair is expected to rise near the 13.1500 level, from which it is expected to try to fall and further develop the bearish trend for the pair USD/ZAR near the level of 12.8100.
USD/ZAR forecast South African Rand on May 25, 2017
Previously, a strong signal was received for the sale of the US Dollar to South African Rand, due to the crossing of the signal lines at the level of 13.3107. 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 13.3700, indicating 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 12.8800.