EUR/ZAR may rise to 20.6010 - 20.9010

Our pivot point stands at 19.49.

Our preference

Rebound.

Alternative scenario

Below 19.49, expect 18.99 and 18.69.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (19.86) but under its 50 period moving average (20.12).

Supports and resistances

21.50 **

21.20 *

20.90 **

20.60

19.96 last

19.69

19.49 **

18.99 *

18.69 **

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