USD/ZAR may rise 1413 - 2103 pips

Our pivot point stands at 18.0300.

Our preference

The upside prevails as long as 18.0300 is support.

Alternative scenario

Below 18.0300, expect 17.9150 and 17.8470.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.0880 and 18.0790).

Supports and resistances

18.5010 **

18.4330 *

18.3650 **

18.2960

18.1547 last

18.0750

18.0300 **

17.9150 *

17.8470 **

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