USD/ZAR 1H Chart: Bounces off dominant support

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1H 4H 1D
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The US Dollar has bounced against a combination of support levels that surround the lower trend line of a dominant ascending channel pattern against the South African Rand. 

On Monday the rebound had clearly broken through all close by resistance levels and even confirmed the closest level of significance as a support level. Namely, the 55-hour simple moving average provided the needed support after the currency exchange rate had begun a decline on Friday.

In the near future the currency exchange rate will surge up to the 14.00 mark, where resistance is provided by the high level touched on June 28.

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