USD/ZAR may rise 1364 - 2004 pips

17.9390 is our pivot point.

Our preference

Rebound towards 18.2350.

Alternative scenario

Below 17.9390, expect 17.8300 and 17.7660.

Comment

The RSI is below 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 18.0360 and 18.0950).

Supports and resistances

18.3640 **

18.3000 *

18.2350 **

18.1710

18.0346 last

17.9810

17.9390 **

17.8300 *

17.7660 **

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