| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Neutral |
| Alligator (13; 8; 5) | Buy | Buy | Buy |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
The US Dollar has been depreciating gradually against the South African Rand since the beginning of September. This movement has been bounded in the falling wedge.
Currently, the currency pair is testing the upper wedge line located circa 14.45. Given that the pair is being supported by the 55-, 100– and 200-hour SMAs, it is expected that a breakout north occurs within following sessions. A potential upside target is the Fibonacci 0.00% retracement at 15.64. Technical indicators for the short run also support bullish scenario.
However, if given pattern holds, it is likely that the general direction remains south. Important support level to look out for is the Fibonacci 50.00% retracement at 13.58.