USD/ZAR may rise 888 - 1298 pips

Our pivot point stands at 17.6630.

Our preference

The upside prevails as long as 17.6630 is support.

Alternative scenario

Below 17.6630, expect 17.5950 and 17.5540.

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 above its 20 and 50 period moving average (respectively at 17.6630 and 17.6340).

Supports and resistances

17.9400 **

17.9000 *

17.8590 **

17.8180

17.7292 last

17.6900

17.6630 **

17.5950 *

17.5540 **

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