USD/ZAR may rise 1217 - 1777 pips

Our pivot point stands at 18.6240.

Our preference

As long as 18.6240 is support look for 18.8940.

Alternative scenario

Below 18.6240, expect 18.5300 and 18.4740.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.6950 and 18.6400).

Supports and resistances

19.0060 **

18.9500 *

18.8940 **

18.8380

18.7163 last

18.6610

18.6240 **

18.5300 *

18.4740 **

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