EUR/ZAR may rise to 20.6230 - 21.1080

Our pivot point is at 18.90.

Our preference

Rebound towards 21.11.

Alternative scenario

Below 18.90, expect 18.09 and 17.60.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19.59 and 19.83).

Supports and resistances

22.08 **

21.59 *

21.11 **

20.62

19.57 last

19.22

18.90 **

18.09 *

17.60 **

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