EUR/ZAR may rise 730 - 1070 pips

19.07 is our pivot point.

Our preference

Rebound towards 19.23.

Alternative scenario

The downside breakout of 19.07 would call for 19.02 and 18.98.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.14 and 19.20).

Supports and resistances

19.30 **

19.27 *

19.23 **

19.20

19.13 last

19.10

19.07 **

19.02 *

18.98 **

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