USD/ZAR may rise 1337 - 1967 pips

18.3150 is our pivot point.

Our preference

Rebound towards 18.6030.

Alternative scenario

The downside breakout of 18.3150 would call for 18.2090 and 18.1460.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.4130 and 18.4510).

Supports and resistances

18.7290 **

18.6660 *

18.6030 **

18.5400

18.4063 last

18.3560

18.3150 **

18.2090 *

18.1460 **

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