USD/ZAR may fall 1007 - 1467 pips

18.8030 is our pivot point.

Our preference

The downside prevails as long as 18.8030 is resistance.

Alternative scenario

Above 18.8030, look for 18.8810 and 18.9270.

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 18.7630 and 18.7700).

Supports and resistances

18.9270 **

18.8810 *

18.8030 **

18.7720

18.6997 last

18.5990

18.5530 **

18.5070 *

18.4610 **

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