USD/ZAR may rise 1449 - 2099 pips

18.0080 is our pivot point.

Our preference

As long as 18.0080 is support look for 18.3270.

Alternative scenario

Below 18.0080, expect 17.8990 and 17.8350.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is below its 20 period moving average (18.1420) but above its 50 period moving average (18.0600).

Supports and resistances

18.4570 **

18.3920 *

18.3270 **

18.2620

18.1171 last

18.0510

18.0080 **

17.8990 *

17.8350 **

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