USD/ZAR may rise 1436 - 2066 pips

18.5040 is our pivot point.

Our preference

As long as 18.5040 is support look for 18.7980.

Alternative scenario

Below 18.5040, expect 18.3970 and 18.3330.

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 (18.5330).

Supports and resistances

18.9260 **

18.8620 *

18.7980 **

18.7350

18.5914 last

18.5460

18.5040 **

18.3970 *

18.3330 **

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