USD/ZAR may fall 1086 - 1556 pips

Our pivot point stands at 18.7970.

Our preference

The downside prevails as long as 18.7970 is resistance.

Alternative scenario

The upside breakout of 18.7970, would call for 18.8740 and 18.9210.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.7740 and 18.7710).

Supports and resistances

18.9210 **

18.8740 *

18.7970 **

18.7660

18.7266 last

18.6180

18.5710 **

18.5250 *

18.4790 **

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