USD/ZAR may fall 1654 - 2264 pips

18.2500 is our pivot point.

Our preference

The downside prevails as long as 18.2500 is resistance.

Alternative scenario

Above 18.2500, look for 18.3530 and 18.4140.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.2050 and 18.2040).

Supports and resistances

18.4140 **

18.3530 *

18.2500 **

18.2100

18.1674 last

18.0020

17.9410 **

17.8810 *

17.8200 **

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