USD/ZAR may rise 892 - 1322 pips

17.8710 is our pivot point.

Our preference

The upside prevails as long as 17.8710 is support.

Alternative scenario

Below 17.8710, expect 17.8000 and 17.7570.

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 17.8970 and 17.8680).

Supports and resistances

18.1740 **

18.1310 *

18.0890 **

18.0460

17.9568 last

17.8990

17.8710 **

17.8000 *

17.7570 **

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