USD/ZAR may rise 1150 - 1690 pips

18.2260 is our pivot point.

Our preference

Rebound towards 18.4780.

Alternative scenario

Below 18.2260, expect 18.1360 and 18.0820.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.3150 and 18.3270).

Supports and resistances

18.5860 **

18.5320 *

18.4780 **

18.4240

18.3090 last

18.2620

18.2260 **

18.1360 *

18.0820 **

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