- USD/ZAR is currently trading around 14.87 levels.
- It made intraday high at 14.98 and low at 14.84 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 14.98 mark.
- A daily close above 14.92 will take the parity higher towards key resistances around 15.26, 15.48 and 15.87 marks respectively.
- Alternatively, a daily close below 14.92 will drag the parity down towards key supports at 14.70, 14.57, 14.27, 14.02, 13.90 and 13.83 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 14.98, stop loss at 14.70 and target of 15.26/15.48.
