USD/ZAR may rise 1421 - 2061 pips

Our pivot point is at 17.9070.

Our preference

The upside prevails as long as 17.9070 is support.

Alternative scenario

Below 17.9070, expect 17.7980 and 17.7340.

Comment

The RSI is above its neutrality area at 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 17.9580 and 17.9510).

Supports and resistances

18.3310 **

18.2670 *

18.2020 **

18.1380

17.9959 last

17.9490

17.9070 **

17.7980 *

17.7340 **

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