| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| 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 beginning of October when it reversed south from the upper boundary of the descending triangle pattern at 15.40.
Currently, the exchange rate is testing the lower pattern line at 14.52. From a theoretical point of view, it is likely that a reversal north could occur in the nearest future, and the rate could reach the upper pattern line at 15.30 in the medium term.
However, note that the currency pair is pressured by the 200-hour moving average. Thus, if the given pattern does not hold, some downside potential could prevail in the market. In this case, the pair could decline to the Fibonacci 38.20% retracement at 14.06.