USD/ZAR may rise 1249 - 1789 pips

Our pivot point stands at 18.2920.

Our preference

Rebound towards 18.5500.

Alternative scenario

Below 18.2920, expect 18.2030 and 18.1500.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.3760 and 18.4870).

Supports and resistances

18.6560 **

18.6030 *

18.5500 **

18.4960

18.3711 last

18.3270

18.2920 **

18.2030 *

18.1500 **

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