EUR/ZAR may rise 1502 - 2192 pips

Our pivot point is at 19.55.

Our preference

Rebound towards 19.89.

Alternative scenario

Below 19.55, expect 19.43 and 19.37.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (19.67) but below its 50 period moving average (19.69).

Supports and resistances

20.03 **

19.96 *

19.89 **

19.82

19.67 last

19.60

19.55 **

19.43 *

19.37 **

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