USD/ZAR may rise 969 - 1429 pips

18.5740 is our pivot point.

Our preference

As long as 18.5740 is support look for 18.7890.

Alternative scenario

Below 18.5740, expect 18.4960 and 18.4500.

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 above its 20 and 50 period moving average (respectively at 18.6210 and 18.5230).

Supports and resistances

18.8810 **

18.8350 *

18.7890 **

18.7430

18.6461 last

18.6040

18.5740 **

18.4960 *

18.4500 **

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