EUR/ZAR may rise 1306 - 1786 pips

Our pivot point is at 19.76.

Our preference

The upside prevails as long as 19.76 is support.

Alternative scenario

Below 19.76, expect 19.68 and 19.63.

Comment

The RSI is above its neutrality area at 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 19.79 and 19.79).

Supports and resistances

20.11 **

20.07 *

20.02 **

19.97

19.84 last

19.79

19.76 **

19.68 *

19.63 **

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