USD/ZAR may fall 1342 - 1872 pips

Our pivot point stands at 18.4730.

Our preference

The downside prevails as long as 18.4730 is resistance.

Alternative scenario

The upside breakout of 18.4730, would call for 18.5620 and 18.6150.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.4460 and 18.5160).

Supports and resistances

18.6150 **

18.5620 *

18.4730 **

18.4380

18.3972 last

18.2630

18.2100 **

18.1570 *

18.1040 **

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