USD/ZAR may rise to 18.2180 - 18.5100

Our pivot point is at 17.1200.

Our preference

Rebound towards 18.5100.

Alternative scenario

Below 17.1200, expect 16.6320 and 16.3420.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (17.4630) but below its 50 period moving average (17.7720).

Supports and resistances

19.0960 **

18.8030 *

18.5100 **

18.2180

17.5588 last

17.3120

17.1200 **

16.6320 *

16.3420 **

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