EUR/ZAR may fall 1267 - 1827 pips

19.99 is our pivot point.

Our preference

Technical rebound towards 19.99 before a new drop.

Alternative scenario

The upside breakout of 19.99, would call for 20.08 and 20.14.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (19.88) but below its 50 period moving average (19.91).

Supports and resistances

20.14 **

20.08 *

19.99 **

19.95

19.90 last

19.78

19.72 **

19.67 *

19.61 **

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