USD/ZAR may rise 1615 - 2225 pips

Our pivot point is at 18.1940.

Our preference

The upside prevails as long as 18.1940 is support.

Alternative scenario

Below 18.1940, expect 18.0910 and 18.0290.

Comment

The RSI is above its neutrality area at 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 18.2330 and 18.2420).

Supports and resistances

18.6310 **

18.5700 *

18.5080 **

18.4470

18.2855 last

18.2340

18.1940 **

18.0910 *

18.0290 **

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