USD/ZAR may rise 1517 - 2197 pips

Our pivot point is at 18.1210.

Our preference

The upside prevails as long as 18.1210 is support.

Alternative scenario

Below 18.1210, expect 18.0060 and 17.9370.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.1880 and 18.1940).

Supports and resistances

18.5830 **

18.5150 *

18.4460 **

18.3780

18.2263 last

18.1660

18.1210 **

18.0060 *

17.9370 **

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