USD/ZAR may rise 1225 - 1785 pips

Our pivot point stands at 18.7980.

Our preference

The upside prevails as long as 18.7980 is support.

Alternative scenario

Below 18.7980, expect 18.7030 and 18.6460.

Comment

The RSI is above 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 18.8610 and 18.8730).

Supports and resistances

19.1720 **

19.1160 *

19.0590 **

19.0030

18.8805 last

18.8350

18.7980 **

18.7030 *

18.6460 **

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