USD/ZAR may rise 1535 - 2225 pips

18.3640 is our pivot point.

Our preference

The upside prevails as long as 18.3640 is support.

Alternative scenario

Below 18.3640, expect 18.2480 and 18.1790.

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 18.4340 and 18.3730).

Supports and resistances

18.8370 **

18.7680 *

18.6990 **

18.6300

18.4765 last

18.4100

18.3640 **

18.2480 *

18.1790 **

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