USD/ZAR may rise 900 - 1330 pips

17.6090 is our pivot point.

Our preference

Rebound towards 17.8250.

Alternative scenario

Below 17.6090, expect 17.5380 and 17.4960.

Comment

The RSI is below its neutrality area at 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 17.6920 and 17.7530).

Supports and resistances

17.9090 **

17.8670 *

17.8250 **

17.7820

17.6920 last

17.6370

17.6090 **

17.5380 *

17.4960 **

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