USD/ZAR may fall 1361 - 1981 pips

18.2450 is our pivot point.

Our preference

The downside prevails as long as 18.2450 is resistance.

Alternative scenario

Above 18.2450, look for 18.3500 and 18.4120.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.1630 and 18.1810).

Supports and resistances

18.4120 **

18.3500 *

18.2450 **

18.2040

18.1321 last

17.9960

17.9340 **

17.8720 *

17.8100 **

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