EUR/ZAR may rise to 20.7870 - 21.2340

Our pivot point stands at 19.18.

Our preference

Our next up target stands at 21.23.

Alternative scenario

The downside breakout of 19.18 would call for 18.44 and 17.99.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.60 and 19.81).

Supports and resistances

22.13 **

21.68 *

21.23 **

20.79

19.82 last

19.47

19.18 **

18.44 *

17.99 **

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