USD/ZAR may rise 1117 - 1657 pips
19.0660 is our pivot point.
Our preference
Rebound.
Alternative scenario
Below 19.0660, expect 18.9760 and 18.9220.
Comment
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (19.1650) but below its 50 period moving average (19.1890).
Supports and resistances
19.4600 **
19.4070 *
19.3530 **
19.2990
19.1873 last
19.1010
19.0660 **
18.9760 *
18.9220 **
Number of asterisks represents the strength of support and resistance levels.
Our preference
Rebound.
Alternative scenario
Below 19.0660, expect 18.9760 and 18.9220.
Comment
The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (19.1650) but below its 50 period moving average (19.1890).
Supports and resistances
19.4600 **
19.4070 *
19.3530 **
19.2990
19.1873 last
19.1010
19.0660 **
18.9760 *
18.9220 **
Number of asterisks represents the strength of support and resistance levels.