USD/ZAR may rise 920 - 1380 pips

Our pivot point stands at 18.3740.

Our preference

The upside prevails as long as 18.3740 is support.

Alternative scenario

Below 18.3740, expect 18.2970 and 18.2520.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.4210 and 18.3580).

Supports and resistances

18.6890 **

18.6440 *

18.5980 **

18.5520

18.4600 last

18.4040

18.3740 **

18.2970 *

18.2520 **

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