USD/ZAR may rise 1013 - 1433 pips

17.4930 is our pivot point.

Our preference

Rebound towards 17.7240.

Alternative scenario

Below 17.4930, expect 17.4230 and 17.3810.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 17.5880 and 17.6010).

Supports and resistances

17.8080 **

17.7660 *

17.7240 **

17.6820

17.5807 last

17.5210

17.4930 **

17.4230 *

17.3810 **

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