USD/ZAR may fall 1195 - 1755 pips

Our pivot point is at 18.2330.

Our preference

The downside prevails as long as 18.2330 is resistance.

Alternative scenario

The upside breakout of 18.2330, would call for 18.3270 and 18.3820.

Comment

The RSI is below 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 18.1850 and 18.2150).

Supports and resistances

18.3820 **

18.3270 *

18.2330 **

18.1970

18.1515 last

18.0320

17.9760 **

17.9210 *

17.8650 **

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