USD/ZAR may rise 1325 - 1885 pips

Our pivot point is at 18.7540.

Our preference

Rebound towards 19.0450.

Alternative scenario

Below 18.7540, expect 18.6600 and 18.6030.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.8620 and 18.9010).

Supports and resistances

19.1590 **

19.1020 *

19.0450 **

18.9890

18.8565 last

18.7920

18.7540 **

18.6600 *

18.6030 **

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