USD/ZAR may rise 1444 - 2124 pips

18.1790 is our pivot point.

Our preference

The upside prevails as long as 18.1790 is support.

Alternative scenario

Below 18.1790, expect 18.0630 and 17.9950.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.2510 and 18.2140).

Supports and resistances

18.6250 **

18.5560 *

18.4870 **

18.4190

18.2746 last

18.2240

18.1790 **

18.0630 *

17.9950 **

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