USD/ZAR may fall 1397 - 2017 pips

Our pivot point is at 18.2930.

Our preference

The downside prevails as long as 18.2930 is resistance.

Alternative scenario

Above 18.2930, look for 18.3970 and 18.4600.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.2200 and 18.2530).

Supports and resistances

18.4600 **

18.3970 *

18.2930 **

18.2520

18.1927 last

18.0530

17.9910 **

17.9290 *

17.8670 **

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