USD/ZAR may fall 1483 - 2163 pips

Our pivot point stands at 18.1610.

Our preference

The downside prevails as long as 18.1610 is resistance.

Alternative scenario

The upside breakout of 18.1610, would call for 18.2750 and 18.3420.

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 18.1050 and 18.1290).

Supports and resistances

18.3420 **

18.2750 *

18.1610 **

18.1160

18.0643 last

17.9160

17.8480 **

17.7800 *

17.7130 **

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