| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇗ | ⇗ | ⇒ |
The USD/ZAR currency pair has been declining gradually within a falling wedge pattern since the end of July.
From a theoretical point of view, it is likely that the exchange rate could continue to trade downwards within the predetermined pattern in the medium term.
In the meantime, note that the currency pair could gain support from the 55– and 100-period moving averages near 16.70. Thus, a breakout north could occur within the following trading sessions.