Daniel_Thompson

USD/ZAR may rise 1117 - 1657 pips

Long
FX:USDZAR   U.S. Dollar / South African Rand
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.
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