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USD/ZAR intraday: rebound towards 17.4760

Our pivot point stands at 17.1310.

Our preference: rebound towards 17.4760.

Alternative scenario: the downside breakout of 17.1310 would call for 17.0080 and 16.9340.

Comment: the RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 17.2570 and 17.3140).

Supports and resistances:
17.6230 **
17.5500 *
17.4760 **
17.4020
17.2312 last
17.1800
17.1310 **
17.0080 *
16.9340 **