USD/ZAR may rise 1343 - 1993 pips

Our pivot point is at 17.8740.

Our preference

The upside prevails as long as 17.8740 is support.

Alternative scenario

The downside breakout of 17.8740 would call for 17.7660 and 17.7020.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 17.9370 and 17.9510).

Supports and resistances

18.2990 **

18.2350 *

18.1710 **

18.1060

17.9717 last

17.9160

17.8740 **

17.7660 *

17.7020 **

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