USD/ZAR may rise 1631 - 2311 pips

Our pivot point stands at 18.1440.

Our preference

The upside prevails as long as 18.1440 is support.

Alternative scenario

Below 18.1440, expect 18.0290 and 17.9610.

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 18.2080 and 18.1970).

Supports and resistances

18.6210 **

18.5520 *

18.4830 **

18.4150

18.2519 last

18.1900

18.1440 **

18.0290 *

17.9610 **

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