USD/ZAR may fall 1429 - 2069 pips

Our pivot point stands at 18.0140.

Our preference

The downside prevails as long as 18.0140 is resistance.

Alternative scenario

The upside breakout of 18.0140, would call for 18.1220 and 18.1860.

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 17.9800 and 18.0120).

Supports and resistances

18.1860 **

18.1220 *

18.0140 **

17.9720

17.9259 last

17.7830

17.7190 **

17.6550 *

17.5910 **

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