USD/ZAR may fall 1387 - 2037 pips

Our pivot point is at 18.0850.

Our preference

The downside prevails as long as 18.0850 is resistance.

Alternative scenario

Above 18.0850, look for 18.1930 and 18.2570.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 18.0530 and 18.0090).

Supports and resistances

18.2570 **

18.1930 *

18.0850 **

18.0420

17.9927 last

17.8540

17.7890 **

17.7250 *

17.6610 **

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