USD/ZAR may rise 1222 - 1782 pips

Our pivot point stands at 18.7950.

Our preference

The upside prevails as long as 18.7950 is support.

Alternative scenario

Below 18.7950, expect 18.7000 and 18.6440.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 18.8570 and 18.8810).

Supports and resistances

19.1790 **

19.1220 *

19.0650 **

19.0090

18.8868 last

18.8330

18.7950 **

18.7000 *

18.6440 **

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