USD/ZAR may fall 1328 - 1888 pips

Our pivot point is at 18.9500.

Our preference

The downside prevails as long as 18.9500 is resistance.

Alternative scenario

Above 18.9500, look for 19.0450 and 19.1020.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.8970 and 18.9220).

Supports and resistances

19.1020 **

19.0450 *

18.9500 **

18.9130

18.8648 last

18.7320

18.6760 **

18.6190 *

18.5630 **

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