USD/ZAR may rise 1449 - 2129 pips

18.1820 is our pivot point.

Our preference

As long as 18.1820 is support look for 18.4910.

Alternative scenario

Below 18.1820, expect 18.0660 and 17.9980.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.2620 and 18.2220).

Supports and resistances

18.6290 **

18.5600 *

18.4910 **

18.4230

18.2781 last

18.2270

18.1820 **

18.0660 *

17.9980 **

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