USD/ZAR may fall 1436 - 2046 pips

18.2810 is our pivot point.

Our preference

The downside prevails as long as 18.2810 is resistance.

Alternative scenario

The upside breakout of 18.2810, would call for 18.3840 and 18.4450.

Comment

The RSI is below 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 18.2200 and 18.2750).

Supports and resistances

18.4450 **

18.3840 *

18.2810 **

18.2410

18.1916 last

18.0480

17.9870 **

17.9260 *

17.8650 **

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