USD/ZAR may rise 1438 - 2048 pips

Our pivot point is at 18.1670.

Our preference

The upside prevails as long as 18.1670 is support.

Alternative scenario

Below 18.1670, expect 18.0640 and 18.0030.

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 18.2440 and 18.2410).

Supports and resistances

18.5930 **

18.5320 *

18.4700 **

18.4090

18.2652 last

18.2080

18.1670 **

18.0640 *

18.0030 **

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