USD/ZAR may fall 1501 - 2181 pips

Our pivot point is at 18.1400.

Our preference

The downside prevails as long as 18.1400 is resistance.

Alternative scenario

Above 18.1400, look for 18.2550 and 18.3220.

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 18.0800 and 18.1520).

Supports and resistances

18.3220 **

18.2550 *

18.1400 **

18.0960

18.0391 last

17.8890

17.8210 **

17.7530 *

17.6860 **

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