USD/ZAR may fall 1471 - 2151 pips

18.0860 is our pivot point.

Our preference

As long as 18.0860 is resistance look for 17.7700.

Alternative scenario

Above 18.0860, look for 18.1990 and 18.2670.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (17.9830) but below its 50 period moving average (17.9860).

Supports and resistances

18.2670 **

18.1990 *

18.0860 **

18.0410

17.9851 last

17.8380

17.7700 **

17.7030 *

17.6350 **

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