EUR/ZAR Technical Analysis 17.01.2024

EUR/ZAR is currently trading at the 20.74 level. Analyzing the daily chart we can see contraction similiar to a symmetrical triangle pattern. We can also see that the resistance level of 20.62 is broken to the upside. This signals a bullish movement. If the uptrend continues we can see a move until the 21 level. On the other hand if a pullback occurs, 20.65 level can be followed as support.