USD/ZAR may rise 1201 - 1661 pips

Our pivot point stands at 18.5210.

Our preference

The upside prevails as long as 18.5210 is support.

Alternative scenario

Below 18.5210, expect 18.4440 and 18.3980.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.5460 and 18.4520).

Supports and resistances

18.8650 **

18.8190 *

18.7730 **

18.7270

18.6069 last

18.5510

18.5210 **

18.4440 *

18.3980 **

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