| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Sell | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The downward pressure that prevailed the market since early August bounded USD/ZAR in a descending channel, thus falling down to the 12.77 mark one month later. After failing to penetrate this level once again two session later, the US Dollar broke out of the channel and consequently formed an ascending wedge.
The pair is currently testing the 38.2% Fibo at 13.05. Given various failed attempts, this level is not expected to surrender under the pressure unless some major jumps are to occur.
Thus, the daily outlook for the pair is bearish, setting the 23.6% Fibo and the 200-hour SMAs at 12.93 as a probable short-term target. This move should breach the bottom wedge boundary and consequently result in a price decline.