USD/ZAR may rise 1429 - 2119 pips

Our pivot point is at 18.1070.

Our preference

As long as 18.1070 is support look for 18.4190.

Alternative scenario

Below 18.1070, expect 17.9930 and 17.9240.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (18.2180) but above its 50 period moving average (18.0910).

Supports and resistances

18.5550 **

18.4870 *

18.4190 **

18.3500

18.2071 last

18.1520

18.1070 **

17.9930 *

17.9240 **

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