Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR moves in stiff boundaries, faces strong resistance at 15.02 mark

  • USD/ZAR is currently trading around 14.94 levels.
  • It made intraday high at 14.95 and low at 14.90 levels.
     
  • Intraday bias remains neutral till the time pair holds key resistance at 14.94 mark.
     
  • A daily close above 14.94 will take the parity higher towards key resistances around 15.02, 15.22, 15.40, 15.70, 15.92 and 16.10 marks respectively.
     
  • Alternatively, a daily close below 14.73 will drag the parity down towards key supports at 14.40, 14.50, 14.22, 14.15 and 13.83 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take long position on USD/ZAR only above 15.02, stop loss at 14.70 and target of 15.22.

By Aarti Panchal
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.