USD/ZAR may rise 1204 - 1744 pips

18.3910 is our pivot point.

Our preference

Rebound towards 18.6540.

Alternative scenario

Below 18.3910, expect 18.3000 and 18.2460.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (18.4790) but under its 50 period moving average (18.4870).

Supports and resistances

18.7630 **

18.7090 *

18.6540 **

18.6000

18.4796 last

18.4270

18.3910 **

18.3000 *

18.2460 **

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