USD/ZAR may fall 1313 - 1873 pips

Our pivot point stands at 18.9880.

Our preference

The downside prevails as long as 18.9880 is resistance.

Alternative scenario

The upside breakout of 18.9880, would call for 19.0840 and 19.1400.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.9410 and 18.9220).

Supports and resistances

19.1400 **

19.0840 *

18.9880 **

18.9510

18.9083 last

18.7770

18.7210 **

18.6640 *

18.6080 **

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