FxWirePro: South African rand depreciates against US dollar, strong resistance falls at 15.53

• USD/ZAR is currently trading around 15.4990.
   
• It made intraday high at 15.5277 and low at 15.4503 levels.
   
• Intraday bias remains bullish for the moment.
   
• A daily close below 15.45 will drag the parity down towards key supports at 15.39/15.37/15.19 levels.
   
• Alternatively, reversal from key support levels will take the parity up to test key resistance at 15.53 marks.

We prefer to take long position in USD/ZAR only above 15.53, stop loss 15.45 and target 15.57/15.62 marks respectively.