USD/ZAR may fall 1352 - 1992 pips

Our pivot point is at 18.0490.

Our preference

The downside prevails as long as 18.0490 is resistance.

Alternative scenario

Above 18.0490, look for 18.1570 and 18.2210.

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 18.0040 and 18.0120).

Supports and resistances

18.2210 **

18.1570 *

18.0490 **

18.0060

17.9632 last

17.8280

17.7640 **

17.6990 *

17.6350 **

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