CIX Markets. Where the client comes first.

USD/ZAR intraday: target 16.8630

Our pivot point stands at 17.1930.

Our preference: target 16.8630.

Alternative scenario: above 17.1930, look for 17.3110 and 17.3820.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (17.1150) but above its 50 period moving average (17.0650).

Supports and resistances:
17.3820 **
17.3110 *
17.1930 **
17.1460
17.0776 last
16.9340
16.8630 **
16.7920 *
16.7220 **