USD/ZAR may rise 1450 - 2130 pips

Our pivot point stands at 18.2790.

Our preference

The upside prevails as long as 18.2790 is support.

Alternative scenario

Below 18.2790, expect 18.1640 and 18.0960.

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 trading above both its 20 and 50 period moving average (respectively at 18.3570 and 18.3530).

Supports and resistances

18.7390 **

18.6700 *

18.6010 **

18.5330

18.3880 last

18.3250

18.2790 **

18.1640 *

18.0960 **

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