USD/ZAR may rise 1120 - 1650 pips

18.1730 is our pivot point.

Our preference

Rebound towards 18.4180.

Alternative scenario

Below 18.1730, expect 18.0850 and 18.0320.

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 18.2630 and 18.3260).

Supports and resistances

18.5240 **

18.4710 *

18.4180 **

18.3650

18.2530 last

18.2080

18.1730 **

18.0850 *

18.0320 **

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