- USD/ZAR is currently trading around 15.35 levels.
- It made intraday high at 15.41 and low at 15.33 levels.
- Intraday bias remains neutral till the time pair holds key support at 15.36 mark.
- A daily close above 15.62 will take the parity higher towards key resistances around 15.70, 15.92, 16.10 and 16.28 marks respectively.
- Alternatively, a daily close below 15.36 will drag the parity down towards key supports at 15.22, 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.
We prefer to take long position on USD/ZAR only above 15.50, stop loss at 15.30 and target of 15.70/15.92.
