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FxWirePro: USD/ZAR remains well supported below 14.50 mark, bias remains slightly bearish

  • USD/ZAR is currently trading around 14.41 levels.
  • It made intraday high at 14.49 and low at 14.39 levels.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at 14.50 marks.
     
  • A daily close above 14.48 will take the parity higher towards key resistances around 14.75, 14.94 and 15.26 marks respectively.
     
  • Alternatively, a daily close below 14.32 will drag the parity down towards key supports at 14.27, 14.12, 14.02, 13.87, 13.78, 13.70 and 13.50 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/ZAR around 14.42, stop loss at 14.55 and target of 14.27/14.12.

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July 2 15:00 UTC Released

DKCurrency Reserves

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449.6 Stale

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451.7 Stale

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USISM NY Biz Conditions

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50 %

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48.6 %

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January 22 19:00 UTC 831101831101m

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-1541 %

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January 22 19:00 UTC 831101831101m

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-1541 %

January 31 00:00 UTC 819281819281m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 819281819281m

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 819281819281m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

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