USD/ZAR may rise 1665 - 2235 pips

Our pivot point stands at 18.8630.

Our preference

The upside prevails as long as 18.8630 is support.

Alternative scenario

Below 18.8630, expect 18.7680 and 18.7110.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.9290 and 18.9220).

Supports and resistances

19.2800 **

19.2230 *

19.1660 **

19.1090

18.9425 last

18.9010

18.8630 **

18.7680 *

18.7110 **

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