USD/ZAR is neutral

Our pivot point stands at 19.2610.

Our preference

Technical rebound towards 19.2610 before a new drop.

Alternative scenario

The upside breakout of 19.2610, would call for 19.8920 and 20.2670.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (18.4920) but under its 50 period moving average (18.6430).

Supports and resistances

20.2670 **

19.8920 *

19.2610 **

19.0140

18.6346 last

17.8750

17.5030 **

17.1310 *

16.7580 **

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