USD/ZAR may fall 1489 - 2159 pips

18.1730 is our pivot point.

Our preference

The downside prevails as long as 18.1730 is resistance.

Alternative scenario

The upside breakout of 18.1730, would call for 18.2870 and 18.3550.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.1130 and 18.1310).

Supports and resistances

18.3550 **

18.2870 *

18.1730 **

18.1290

18.0669 last

17.9180

17.8510 **

17.7830 *

17.7150 **

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