USD/ZAR may rise 1086 - 1556 pips

18.7350 is our pivot point.

Our preference

As long as 18.7350 is support look for 18.9590.

Alternative scenario

Below 18.7350, expect 18.6570 and 18.6110.

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 18.7760 and 18.7660).

Supports and resistances

19.0520 **

19.0050 *

18.9590 **

18.9120

18.8034 last

18.7660

18.7350 **

18.6570 *

18.6110 **

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