USD/ZAR may rise 930 - 1350 pips

Our pivot point is at 18.0150.

Our preference

Rebound.

Alternative scenario

Below 18.0150, expect 17.9460 and 17.9040.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (18.0650) but below its 50 period moving average (18.0960).

Supports and resistances

18.2980 **

18.2560 *

18.2150 **

18.1730

18.0800 last

18.0430

18.0150 **

17.9460 *

17.9040 **

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