EUR/ZAR may fall to 18.6700 - 18.9980

Our pivot point is at 20.19.

Our preference

The downside prevails as long as 20.19 is resistance.

Alternative scenario

Above 20.19, look for 20.75 and 21.08.

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 19.78 and 19.82).

Supports and resistances

21.08 **

20.75 *

20.19 **

19.98

19.74 last

19.00

18.67 **

18.34 *

18.02 **

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