EUR/ZAR may fall to 18.6030 - 18.9360

20.17 is our pivot point.

Our preference

The downside prevails as long as 20.17 is resistance.

Alternative scenario

The upside breakout of 20.17, would call for 20.73 and 21.07.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.89 and 19.75).

Supports and resistances

21.07 **

20.73 *

20.17 **

19.95

19.68 last

18.94

18.60 **

18.27 *

17.94 **

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