USD/ZAR may rise 1449 - 2139 pips

18.3030 is our pivot point.

Our preference

The upside prevails as long as 18.3030 is support.

Alternative scenario

Below 18.3030, expect 18.1880 and 18.1190.

Comment

The RSI is above 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 18.3700 and 18.3540).

Supports and resistances

18.7540 **

18.6850 *

18.6170 **

18.5480

18.4031 last

18.3480

18.3030 **

18.1880 *

18.1190 **

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