USD/ZAR may rise 1377 - 1987 pips

Our pivot point is at 18.1460.

Our preference

The upside prevails as long as 18.1460 is support.

Alternative scenario

The downside breakout of 18.1460 would call for 18.0430 and 17.9820.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.2060 and 18.2140).

Supports and resistances

18.5470 **

18.4860 *

18.4250 **

18.3640

18.2263 last

18.1860

18.1460 **

18.0430 *

17.9820 **

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