USD/ZAR may rise 962 - 1372 pips

17.5190 is our pivot point.

Our preference

Rebound towards 17.7160.

Alternative scenario

Below 17.5190, expect 17.4510 and 17.4110.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.5820 and 17.6020).

Supports and resistances

17.7960 **

17.7560 *

17.7160 **

17.6750

17.5788 last

17.5450

17.5190 **

17.4510 *

17.4110 **

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