| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Buy | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
[ANNOUNCE] The USD/ZAR exchange rate has been trading upwards since the beginning of January after the rate reversed north from the Fibonacci 38.20% retracement at 14.06. [/ANNOUNCE]
As apparent on the chart, the currency pair has already reversed south from the descending trend line at 15.10. Thus, from a theoretical perspective, it is likely that some downside potential could prevail in the market, and the pair could re-test the Fibo 38.20%.
However, note that the exchange rate could gain support from the 55-period SMA (4H time-frame chart) and trade upwards within the following trading sessions. In this case the rate could reach the monthly R1 at 15.42.