USD/ZAR may rise 1185 - 1755 pips

Our pivot point stands at 18.6330.

Our preference

Rebound towards 18.9000.

Alternative scenario

Below 18.6330, expect 18.5390 and 18.4830.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.7350 and 18.7890).

Supports and resistances

19.0120 **

18.9560 *

18.9000 **

18.8430

18.7245 last

18.6700

18.6330 **

18.5390 *

18.4830 **

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