USD/ZAR may fall 1188 - 1728 pips

18.3120 is our pivot point.

Our preference

The downside prevails as long as 18.3120 is resistance.

Alternative scenario

Above 18.3120, look for 18.4030 and 18.4560.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.2420 and 18.2450).

Supports and resistances

18.4560 **

18.4030 *

18.3120 **

18.2770

18.2388 last

18.1200

18.0660 **

18.0130 *

17.9590 **

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