| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Buy | Buy | Neutral |
| Stochastic(5;3;3) | Buy | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Buy |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
The USD/ZAR currency pair has been trading downwards since the middle of May after it failed to exceed the 19.00 level.
Given that the exchange rate is pressured by the 55-, 100– and 200-hour moving averages, it is likely that some downside potential could continue to prevail in the market, and the rate could decline to the Fibo 61.80% at 14.44.
Meanwhile, note that the currency pair could gain support from the Fibo 38.20% at 16.25. If the given level holds, it is likely that a reversal north could occur, and the pair could re-test the 19.00 mark.