- USD/ZAR is currently trading around 15.13 levels.
- It made intraday high at 15.17 and low at 15.04 levels.
- Intraday bias remains bullish till the time pair holds immediate support at 15.00 mark.
- A daily close above 15.04 will take the parity higher towards key resistances around 15.22, 15.32, 15.53, 15.73,15.98 and 16.24 marks respectively.
- Alternatively, a daily close below 15.04 will drag the parity down towards key supports at 14.92, 14.81, 14.70, 14.52, 14.30 and 14.05 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Africa will release business confidence index data at 0930 GMT.
We prefer to take long position on USD/ZAR around 15.10, stop loss at 15.00 and target of 15.32.
