USD/ZAR may rise 908 - 1328 pips

Our pivot point is at 18.0440.

Our preference

Rebound towards 18.2420.

Alternative scenario

The downside breakout of 18.0440 would call for 17.9740 and 17.9330.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.1320 and 18.1790).

Supports and resistances

18.3250 **

18.2830 *

18.2420 **

18.2000

18.1092 last

18.0710

18.0440 **

17.9740 *

17.9330 **

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