USD/ZAR may fall 1498 - 2188 pips

18.3730 is our pivot point.

Our preference

The downside prevails as long as 18.3730 is resistance.

Alternative scenario

Above 18.3730, look for 18.4880 and 18.5570.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.2980 and 18.2870).

Supports and resistances

18.5570 **

18.4880 *

18.3730 **

18.3270

18.2788 last

18.1290

18.0600 **

17.9910 *

17.9230 **

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