USD/ZAR may rise 1374 - 1984 pips

Our pivot point stands at 18.1260.

Our preference

Rebound towards 18.4180.

Alternative scenario

Below 18.1260, expect 18.0230 and 17.9620.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (18.2120) but below its 50 period moving average (18.2610).

Supports and resistances

18.5400 **

18.4790 *

18.4180 **

18.3570

18.2196 last

18.1660

18.1260 **

18.0230 *

17.9620 **

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