USD/ZAR may rise 1374 - 2014 pips

18.5060 is our pivot point.

Our preference

As long as 18.5060 is support look for 18.7970.

Alternative scenario

Below 18.5060, expect 18.3990 and 18.3360.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (18.6080) but above its 50 period moving average (18.4960).

Supports and resistances

18.9240 **

18.8600 *

18.7970 **

18.7330

18.5956 last

18.5480

18.5060 **

18.3990 *

18.3360 **

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