USD/ZAR may rise to 19.0220 - 19.3360

Our pivot point stands at 17.8960.

Our preference

Rebound towards 19.3360.

Alternative scenario

Below 17.8960, expect 17.3700 and 17.0570.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3790 and 18.6770).

Supports and resistances

19.9660 **

19.6510 *

19.3360 **

19.0220

18.3750 last

18.1030

17.8960 **

17.3700 *

17.0570 **

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