USD/ZAR may rise 852 - 1282 pips

17.9360 is our pivot point.

Our preference

As long as 17.9360 is support look for 18.1490.

Alternative scenario

Below 17.9360, expect 17.8640 and 17.8220.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.0100 and 17.9420).

Supports and resistances

18.2350 **

18.1920 *

18.1490 **

18.1060

18.0208 last

17.9640

17.9360 **

17.8640 *

17.8220 **

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