USD/ZAR may fall 1217 - 1757 pips

Our pivot point stands at 18.7870.

Our preference

The downside prevails as long as 18.7870 is resistance.

Alternative scenario

Above 18.7870, look for 18.8780 and 18.9320.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.7160 and 18.7290).

Supports and resistances

18.9320 **

18.8780 *

18.7870 **

18.7510

18.6857 last

18.5640

18.5100 **

18.4560 *

18.4020 **

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