- USD/ZAR is currently trading around 16.25 levels.
- It made intraday high at 16.95 and low at 15.79 levels.
- Intraday bias remains bullish till the time pair holds key support at 15.67 mark.
- A daily close above 15.67 will take the parity higher towards key resistances around 16.95, 17.34, 17.58 and 17.88 marks respectively.
- Alternatively, a daily close below 15.36 will drag the parity down towards key supports at 15.10, 15.02, 14.94, 14.72 and 14.50 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Positioning is inconclusive at this point. We remain sideways for the time being.
