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USD/ZAR 4H Chart: Bears could continue to prevail

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralBuyNeutral
Stochastic(5;3;3)NeutralBuyNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate⇒⇒⇘

[ANNOUNCE] The USD/ZAR currency pair continued to trade downwards within the falling wedge pattern. [/ANNOUNCE] 

From a theoretical perspective, it is likely that the exchange rate could continue to move within the predetermined pattern until the beginning of December. Then, a breakout north could follow. 

Meanwhile, note that the currency pair is pressured by the 55-, 100– and 200-period moving averages in the 16.45/16.62 area. Thus, a breakout south could occur, and the pair could target the Fibo 50.00% at 15.34.

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