USD/ZAR may rise 1256 - 1876 pips

Our pivot point is at 18.1230.

Our preference

As long as 18.1230 is support look for 18.4100.

Alternative scenario

The downside breakout of 18.1230 would call for 18.0210 and 17.9600.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.2210 and 18.2110).

Supports and resistances

18.5320 **

18.4710 *

18.4100 **

18.3480

18.2224 last

18.1630

18.1230 **

18.0210 *

17.9600 **

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