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FxWirePro: USD/ZAR hovers around key resistance at 14.25 mark, sustained close above targets 14.49 mark

  • USD/ZAR is currently trading around 14.24 levels.
  • It made intraday high at 14.26 and low at 14.23 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 14.25 will take the parity higher towards key resistances around 14.32, 14.49, 14.68 and 14.77 marks respectively.
     
  • Alternatively, a daily close below 14.25 will drag the parity down towards key supports at 14.08, 13.96, 13.70, 13.46, 13.38, 13.20, 13.01, 12.96, 12.87, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to take long position on USD/ZAR around 14.24, stop loss 14.07 and target of 14.49 mark.

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