USD/ZAR may rise 1363 - 1973 pips

Our pivot point stands at 18.0980.

Our preference

Rebound towards 18.4050.

Alternative scenario

Below 18.0980, expect 17.9960 and 17.9350.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (18.2040) but under its 50 period moving average (18.2250).

Supports and resistances

18.5270 **

18.4660 *

18.4050 **

18.3440

18.2077 last

18.1390

18.0980 **

17.9960 *

17.9350 **

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