| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The USD/ZAR currency pair has been trading upwards since the end of July after it reversed north from the psychological level at 13.80. As apparent on the chart, the pair has been testing the ascending trend line located circa 15.50 since the beginning of last week.
If the given line holds, it is expected, that a reversal south could occur in the nearest future. In this case, the exchange rate could re-test the support level formed by the Fibonacci 23.60% retracement at the 14.67 mark.
However, note, that the pair is supported by the 55-, 100– and 200-hour SMAs, currently located circa 15.30. Thus, some upside potential could occur in the short run. Important level to look out for is the 2018/2019 high at the 15.64.