EUR/ZAR may rise to 21.1890 - 21.6270

Our pivot point stands at 19.57.

Our preference

The upside prevails as long as 19.57 is support.

Alternative scenario

Below 19.57, expect 18.84 and 18.41.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.85 and 19.83). Finally, the EUR/ZAR has crossed above its upper Bollinger band (20.22).

Supports and resistances

22.50 **

22.06 *

21.63 **

21.19

20.22 last

19.86

19.57 **

18.84 *

18.41 **

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