EUR/ZAR may rise 1322 - 1872 pips

Our pivot point is at 19.85.

Our preference

Rebound towards 20.13.

Alternative scenario

The downside breakout of 19.85 would call for 19.76 and 19.70.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands above its 20 period moving average (19.93) but below its 50 period moving average (19.97).

Supports and resistances

20.25 **

20.19 *

20.13 **

20.08

19.95 last

19.89

19.85 **

19.76 *

19.70 **

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