USD/ZAR may rise 1769 - 2419 pips

18.0100 is our pivot point.

Our preference

The upside prevails as long as 18.0100 is support.

Alternative scenario

The downside breakout of 18.0100 would call for 17.9010 and 17.8360.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 18.0040 and 17.9800).

Supports and resistances

18.4760 **

18.4110 *

18.3460 **

18.2810

18.1041 last

18.0520

18.0100 **

17.9010 *

17.8360 **

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