| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
The USD/ZAR currency pair continued to go upside and reached the upper boundary of the long-term ascending channel at 14.55.
Currently, the exchange rate is testing the upper channel line. From a theoretical point of view, it is expected that the pair reverses south and targets the lower trend boundary. Important support level to look out for is the Fibonacci 50.00% retracement at 13.58.
However, given that the rate is being supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout north from the channel occurs in the nearest future. A possible upside target is the psychological level at 14.80.