USD/ZAR may rise 888 - 1318 pips

Our pivot point is at 17.7880.

Our preference

As long as 17.7880 is support look for 17.9850.

Alternative scenario

Below 17.7880, expect 17.7160 and 17.6730.

Comment

The RSI is above 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 17.8150 and 17.7470).

Supports and resistances

18.0710 **

18.0280 *

17.9850 **

17.9420

17.8532 last

17.8160

17.7880 **

17.7160 *

17.6730 **

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