USD/ZAR may fall 1543 - 2073 pips

Our pivot point stands at 18.4940.

Our preference

Technical rebound towards 18.4940 before a new drop.

Alternative scenario

The upside breakout of 18.4940, would call for 18.5840 and 18.6370.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (18.3950) but below its 50 period moving average (18.4300).

Supports and resistances

18.6370 **

18.5840 *

18.4940 **

18.4590

18.4233 last

18.2690

18.2160 **

18.1630 *

18.1100 **

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