EUR/ZAR may fall to 18.8850 - 19.2710

Our pivot point is at 20.72.

Our preference

As long as 20.72 is resistance look for 18.89.

Alternative scenario

The upside breakout of 20.72, would call for 21.38 and 21.77.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading above its 20 period moving average (20.05) but under its 50 period moving average (20.09).

Supports and resistances

21.77 **

21.38 *

20.72 **

20.46

20.08 last

19.27

18.89 **

18.50 *

18.11 **

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