USD/ZAR may fall 1308 - 1958 pips

18.0380 is our pivot point.

Our preference

The downside prevails as long as 18.0380 is resistance.

Alternative scenario

Above 18.0380, look for 18.1450 and 18.2100.

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 17.9730 and 18.0030).

Supports and resistances

18.2100 **

18.1450 *

18.0380 **

17.9950

17.9398 last

17.8090

17.7440 **

17.6800 *

17.6160 **

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