USD/ZAR may fall 1426 - 2036 pips

Our pivot point stands at 18.2810.

Our preference

The downside prevails as long as 18.2810 is resistance.

Alternative scenario

Above 18.2810, look for 18.3840 and 18.4450.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.2540 and 18.2360).

Supports and resistances

18.4450 **

18.3840 *

18.2810 **

18.2410

18.1966 last

18.0540

17.9930 **

17.9320 *

17.8710 **

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