USD/ZAR may rise 1318 - 1868 pips

Our pivot point is at 17.9500.

Our preference

Rebound towards 18.2230.

Alternative scenario

Below 17.9500, expect 17.8570 and 17.8020.

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 18.0450 and 18.1240).

Supports and resistances

18.3330 **

18.2780 *

18.2230 **

18.1680

18.0362 last

17.9860

17.9500 **

17.8570 *

17.8020 **

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