USD/ZAR may rise 875 - 1305 pips

Our pivot point stands at 17.8180.

Our preference

The upside prevails as long as 17.8180 is support.

Alternative scenario

Below 17.8180, expect 17.7460 and 17.7040.

Comment

The RSI is above 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 17.8510 and 17.8440).

Supports and resistances

18.1050 **

18.0620 *

18.0200 **

17.9770

17.8895 last

17.8460

17.8180 **

17.7460 *

17.7040 **

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