USD/ZAR may rise 1127 - 1667 pips

18.1830 is our pivot point.

Our preference

Our next up target stands at 18.4300.

Alternative scenario

Below 18.1830, expect 18.0930 and 18.0390.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.2270 and 18.2600).

Supports and resistances

18.5380 **

18.4840 *

18.4300 **

18.3760

18.2633 last

18.2180

18.1830 **

18.0930 *

18.0390 **

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