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FxWirePro: South African rand trades marginally lower ahead of CPI, core CPI data

  • USD/ZAR is currently trading around 14.06 levels.
  • It made intraday high at 14.07 and low at 14.00 levels.
     
  • Intraday bias remains bullish till the time pair holds key support 13.90 mark.
     
  • A daily close above 14.12 will take the parity higher towards key resistances around 14.27, 14.38 and 14.64 marks respectively.
     
  • Alternatively, a daily close below 14.02 will drag the parity down towards key supports at 13.90, 13.70, 13.50, 13.36, 13.22, 13.07, 12.94 and 12.66 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 correcton only.
     
  • South Africa will release CPI as well as core CPI data at 0800 GMT.

We prefer to take long position on USD/ZAR around 14.02, stop loss at 13.87 and target of 14.64.

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2019-05-20 01:23:48
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ARTrade Balance

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January 31 00:00 UTC 682710682710m

ARAnnual Primary Balance*

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Bln AR bln ARS

January 31 00:00 UTC 682710682710m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 682710682710m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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