USD/ZAR may fall 1239 - 1779 pips

18.4380 is our pivot point.

Our preference

The downside prevails as long as 18.4380 is resistance.

Alternative scenario

Above 18.4380, look for 18.5290 and 18.5830.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3740 and 18.3770).

Supports and resistances

18.5830 **

18.5290 *

18.4380 **

18.4030

18.3529 last

18.2290

18.1750 **

18.1210 *

18.0670 **

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