USD/ZAR may fall 1324 - 1944 pips

18.3860 is our pivot point.

Our preference

The downside prevails as long as 18.3860 is resistance.

Alternative scenario

Above 18.3860, look for 18.4890 and 18.5510.

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 18.3390 and 18.3870).

Supports and resistances

18.5510 **

18.4890 *

18.3860 **

18.3450

18.3014 last

18.1690

18.1070 **

18.0460 *

17.9850 **

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