USD/ZAR may fall 1146 - 1676 pips

18.4590 is our pivot point.

Our preference

The downside prevails as long as 18.4590 is resistance.

Alternative scenario

Above 18.4590, look for 18.5480 and 18.6010.

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 is trading under both its 20 and 50 period moving average (respectively at 18.3960 and 18.4030).

Supports and resistances

18.6010 **

18.5480 *

18.4590 **

18.4240

18.3886 last

18.2740

18.2210 **

18.1680 *

18.1150 **

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