EUR/ZAR may fall to 18.8240 - 19.1630

Our pivot point is at 20.42.

Our preference

Target 18.82.

Alternative scenario

Above 20.42, look for 20.99 and 21.34.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (19.92) but above its 50 period moving average (19.80).

Supports and resistances

21.34 **

20.99 *

20.42 **

20.20

19.88 last

19.16

18.82 **

18.49 *

18.15 **

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