USD/ZAR may rise 1470 - 2150 pips

Our pivot point stands at 18.0170.

Our preference

The upside prevails as long as 18.0170 is support.

Alternative scenario

Below 18.0170, expect 17.9030 and 17.8350.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.0960 and 18.1130).

Supports and resistances

18.4650 **

18.3970 *

18.3290 **

18.2610

18.1140 last

18.0620

18.0170 **

17.9030 *

17.8350 **

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