EUR/ZAR may rise to 21.0900 - 21.4700

19.66 is our pivot point.

Our preference

The upside prevails as long as 19.66 is support.

Alternative scenario

The downside breakout of 19.66 would call for 19.03 and 18.65.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 19.93 and 20.09).

Supports and resistances

22.23 **

21.85 *

21.47 **

21.09

20.31 last

19.91

19.66 **

19.03 *

18.65 **

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