USD/ZAR may rise 960 - 1330 pips

Our pivot point is at 17.4740.

Our preference

The upside prevails as long as 17.4740 is support.

Alternative scenario

Below 17.4740, expect 17.4110 and 17.3740.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 17.4990 and 17.4500).

Supports and resistances

17.7590 **

17.7220 *

17.6840 **

17.6470

17.5510 last

17.4990

17.4740 **

17.4110 *

17.3740 **

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