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FxWirePro: South African rand marginally higher against U.S. dollar, bias remains neutral

  • USD/ZAR is currently trading around 13.72 levels.
  • It made intraday high at 13.77 and low at 13.68 levels.
     
  • Intraday bias remains neutral for the moment.   
     
  • A daily close above 13.73 will take the parity higher towards key resistances around 13.96, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28, 15.45, 15.66, 15.77, 15.86 (February 29, 2016 high) and 16.15 marks respectively.
     
  • Alternatively, a daily close below 13.73 will drag the parity down towards key supports at 13.57, 13.45, 13.32, 13.19, 13.01, 12.82 and 12.58 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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July 21 14:30 UTC Released

USECRI Weekly Annualized*

Actual

144.8 %

Forecast

Previous

2.4 %

July 21 14:30 UTC Released

USECRI Weekly Index*

Actual

2.6 %

Forecast

Previous

143.9 %

July 24 00:30 UTC 832832m

JPForeign Direct Investm't*

Actual

Forecast

Previous

52.4 bln $

July 24 07:00 UTC 12221222m

FRMarkit Serv Flash PMI

Actual

Forecast

56.7 %

Previous

56.9 %

July 24 07:00 UTC 12221222m

FRMarkit Mfg Flash PMI

Actual

Forecast

54.6 %

Previous

54.8 %

July 24 07:00 UTC 12221222m

FRMarkit Comp Flash PMI

Actual

Forecast

56.4 %

Previous

56.6 %

July 24 07:30 UTC 12521252m

DEMarkit Service Flash PMI

Actual

Forecast

54.3

Previous

54.0

July 24 07:30 UTC 12521252m

DEMarkit Mfg Flash PMI

Actual

Forecast

59.2

Previous

59.6

July 24 07:30 UTC 12521252m

DEMarkit Comp Flash PMI

Actual

Forecast

56.3

Previous

56.4

July 24 08:00 UTC 12821282m

RUMarkit Mfg Flash PMI

Actual

Forecast

57.2 %

Previous

57.4 %

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