USD/ZAR may rise 1370 - 1980 pips

Our pivot point is at 18.1660.

Our preference

The upside prevails as long as 18.1660 is support.

Alternative scenario

Below 18.1660, expect 18.0630 and 18.0010.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.2040 and 18.2410).

Supports and resistances

18.5790 **

18.5180 *

18.4560 **

18.3950

18.2580 last

18.2060

18.1660 **

18.0630 *

18.0010 **

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