USD/ZAR may fall 1460 - 2140 pips

Our pivot point stands at 18.3130.

Our preference

The downside prevails as long as 18.3130 is resistance.

Alternative scenario

Above 18.3130, look for 18.4280 and 18.4970.

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 stands below its 20 and 50 period moving average (respectively at 18.2550 and 18.2840).

Supports and resistances

18.4970 **

18.4280 *

18.3130 **

18.2680

18.2160 last

18.0700

18.0020 **

17.9330 *

17.8650 **

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