USD/ZAR may fall 1227 - 1797 pips

18.9820 is our pivot point.

Our preference

Target 18.7170.

Alternative scenario

Above 18.9820, look for 19.0780 and 19.1340.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (18.9260) but above its 50 period moving average (18.8500).

Supports and resistances

19.1340 **

19.0780 *

18.9820 **

18.9450

18.8967 last

18.7740

18.7170 **

18.6600 *

18.6040 **

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