USD/ZAR may fall 1152 - 1682 pips

18.4220 is our pivot point.

Our preference

The downside prevails as long as 18.4220 is resistance.

Alternative scenario

Above 18.4220, look for 18.5110 and 18.5640.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.3720 and 18.3920).

Supports and resistances

18.5640 **

18.5110 *

18.4220 **

18.3870

18.3372 last

18.2220

18.1690 **

18.1160 *

18.0630 **

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