EUR/ZAR may rise to 19.8500 - 20.1520

Our pivot point stands at 18.72.

Our preference

Rebound towards 20.15.

Alternative scenario

The downside breakout of 18.72 would call for 18.22 and 17.92.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 19.33 and 19.65).

Supports and resistances

20.76 **

20.46 *

20.15 **

19.85

19.23 last

18.92

18.72 **

18.22 *

17.92 **

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