| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Sell | Neutral |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇘ |
The US Dollar has lost value against the South African Rand in the recent weeks, thus resulting in the formation of a channel down. In addition, the two massive plunges within the last few trading sessions have revealed a new junior pattern—a falling wedge.
Technical indicators suggest that the rate is likely to breach the wedge (in a rather flat motion) and approach the 55-hour SMA which is located near the upper channel boundary circa 13.05. Being reinforced by the 23.6% Fibonacci retracement, this resistance area may prove to be too strong to surpass, thus initiating a new move downwards.
In case of a fall, the bottom target is set by a combined support of the monthly S1 and the weekly S2 at 12.82.