| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Sell | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Sell | Neutral |
| Alligator(13;8;5) | Buy | Neutral | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The USD/ZAR currency pair has been trading sideways between the Fibos 38.00% and 23.60%, located at 16.26 and 17.37 respectively.
If the given levels hold, it is likely that the exchange rate could continue to consolidate in the medium term.
Meanwhile, note that the rate could gain support from the 55-, 100– and 200-period moving averages. Thus, some upside potential could prevail in the market, and the pair could target the psychological level at 18.50.