USD/ZAR may rise 1307 - 1917 pips

Our pivot point is at 18.1110.

Our preference

Rebound towards 18.3980.

Alternative scenario

Below 18.1110, expect 18.0080 and 17.9470.

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 (18.2010) but below its 50 period moving average (18.2380).

Supports and resistances

18.5200 **

18.4590 *

18.3980 **

18.3370

18.2063 last

18.1510

18.1110 **

18.0080 *

17.9470 **

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