USD/ZAR may rise 1228 - 1838 pips

18.2120 is our pivot point.

Our preference

Rebound towards 18.4920.

Alternative scenario

Below 18.2120, expect 18.1090 and 18.0470.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3210 and 18.3670).

Supports and resistances

18.6150 **

18.5540 *

18.4920 **

18.4310

18.3082 last

18.2520

18.2120 **

18.1090 *

18.0470 **

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