USD/ZAR may rise 1052 - 1512 pips

Our pivot point is at 18.6610.

Our preference

As long as 18.6610 is support look for 18.8780.

Alternative scenario

Below 18.6610, expect 18.5830 and 18.5370.

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 18.6800 and 18.5960).

Supports and resistances

18.9700 **

18.9240 *

18.8780 **

18.8320

18.7268 last

18.6920

18.6610 **

18.5830 *

18.5370 **

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