USD/ZAR may rise 1390 - 2030 pips

17.9330 is our pivot point.

Our preference

Rebound towards 18.2450.

Alternative scenario

The downside breakout of 17.9330 would call for 17.8240 and 17.7600.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.0570 and 18.1460).

Supports and resistances

18.3740 **

18.3100 *

18.2450 **

18.1810

18.0420 last

17.9750

17.9330 **

17.8240 *

17.7600 **

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