USD/ZAR may rise 1015 - 1485 pips

18.7470 is our pivot point.

Our preference

The upside prevails as long as 18.7470 is support.

Alternative scenario

The downside breakout of 18.7470 would call for 18.6690 and 18.6220.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.7620 and 18.7570).

Supports and resistances

19.0650 **

19.0180 *

18.9720 **

18.9250

18.8235 last

18.7770

18.7470 **

18.6690 *

18.6220 **

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