USD/ZAR may rise 1142 - 1682 pips

Our pivot point stands at 18.2350.

Our preference

Rebound towards 18.4830.

Alternative scenario

Below 18.2350, expect 18.1450 and 18.0910.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (18.3130) but below its 50 period moving average (18.3330).

Supports and resistances

18.5910 **

18.5370 *

18.4830 **

18.4290

18.3148 last

18.2710

18.2350 **

18.1450 *

18.0910 **

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