EUR/ZAR may rise 1215 - 1755 pips

Our pivot point is at 19.54.

Our preference

Rebound towards 19.81.

Alternative scenario

Below 19.54, expect 19.45 and 19.40.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 19.64 and 19.66).

Supports and resistances

19.92 **

19.86 *

19.81 **

19.75

19.63 last

19.58

19.54 **

19.45 *

19.40 **

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