USD/ZAR may rise 1527 - 2177 pips

Our pivot point is at 17.8890.

Our preference

Rebound towards 18.2030.

Alternative scenario

Below 17.8890, expect 17.7810 and 17.7160.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.0100 and 18.0450).

Supports and resistances

18.3320 **

18.2670 *

18.2030 **

18.1380

17.9853 last

17.9310

17.8890 **

17.7810 *

17.7160 **

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