USD/ZAR may rise 1715 - 2355 pips

Our pivot point stands at 17.8590.

Our preference

Rebound towards 18.1890.

Alternative scenario

Below 17.8590, expect 17.7510 and 17.6870.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 17.9620 and 18.0140).

Supports and resistances

18.3180 **

18.2540 *

18.1890 **

18.1250

17.9535 last

17.9010

17.8590 **

17.7510 *

17.6870 **

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