USD/ZAR may rise 1211 - 1741 pips

Our pivot point is at 18.1660.

Our preference

Rebound towards 18.4230.

Alternative scenario

Below 18.1660, expect 18.0770 and 18.0240.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 18.2530 and 18.3130).

Supports and resistances

18.5280 **

18.4750 *

18.4230 **

18.3700

18.2489 last

18.2000

18.1660 **

18.0770 *

18.0240 **

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