USD/ZAR may rise 1375 - 1985 pips

Our pivot point stands at 18.2360.

Our preference

The upside prevails as long as 18.2360 is support.

Alternative scenario

The downside breakout of 18.2360 would call for 18.1330 and 18.0710.

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 trading above both its 20 and 50 period moving average (respectively at 18.2830 and 18.2470).

Supports and resistances

18.6610 **

18.6000 *

18.5380 **

18.4770

18.3395 last

18.2770

18.2360 **

18.1330 *

18.0710 **

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