USD/ZAR may rise 944 - 1364 pips

Our pivot point stands at 17.5870.

Our preference

Rebound towards 17.7840.

Alternative scenario

Below 17.5870, expect 17.5160 and 17.4740.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.6670 and 17.7080).

Supports and resistances

17.8690 **

17.8260 *

17.7840 **

17.7420

17.6476 last

17.6150

17.5870 **

17.5160 *

17.4740 **

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