USD/ZAR may fall 1215 - 1675 pips

18.7490 is our pivot point.

Our preference

The downside prevails as long as 18.7490 is resistance.

Alternative scenario

The upside breakout of 18.7490, would call for 18.8270 and 18.8730.

Comment

The RSI is below 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 18.7470 and 18.7620).

Supports and resistances

18.8730 **

18.8270 *

18.7490 **

18.7190

18.6855 last

18.5640

18.5180 **

18.4720 *

18.4260 **

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