USD/ZAR may rise 876 - 1296 pips

Our pivot point is at 18.0740.

Our preference

Rebound towards 18.2780.

Alternative scenario

Below 18.0740, expect 18.0040 and 17.9620.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.1650 and 18.2090).

Supports and resistances

18.3610 **

18.3190 *

18.2780 **

18.2360

18.1484 last

18.1010

18.0740 **

18.0040 *

17.9620 **

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