USD/ZAR may rise 1492 - 2182 pips

Our pivot point is at 18.2240.

Our preference

The upside prevails as long as 18.2240 is support.

Alternative scenario

Below 18.2240, expect 18.1090 and 18.0400.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.2920 and 18.2790).

Supports and resistances

18.6900 **

18.6210 *

18.5530 **

18.4840

18.3348 last

18.2690

18.2240 **

18.1090 *

18.0400 **

Number of asterisks represents the strength of support and resistance levels.