USD/ZAR may fall 1575 - 2255 pips

18.4750 is our pivot point.

Our preference

The downside prevails as long as 18.4750 is resistance.

Alternative scenario

Above 18.4750, look for 18.5900 and 18.6590.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3950 and 18.3940).

Supports and resistances

18.6590 **

18.5900 *

18.4750 **

18.4300

18.3815 last

18.2240

18.1560 **

18.0870 *

18.0190 **

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