USD/ZAR may rise 1317 - 1927 pips

18.1640 is our pivot point.

Our preference

The upside prevails as long as 18.1640 is support.

Alternative scenario

The downside breakout of 18.1640 would call for 18.0610 and 18.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.2060 and 18.2100).

Supports and resistances

18.5850 **

18.5230 *

18.4620 **

18.4010

18.2693 last

18.2050

18.1640 **

18.0610 *

18.0000 **

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