Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR breaks key resistance at 14.10 mark, good to buy on dips

  • USD/ZAR is currently trading around 14.10 levels.
  • It made intraday high at 14.10 and low at 14.01 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 13.87 mark.
     
  • A daily close above 14.04 will take the parity higher towards key resistances around 14.10, 14.22, 14.32, 14.40, 14.75, 14.94 and 15.26 marks respectively.
     
  • Alternatively, a daily close below 14.02 will drag the parity down towards key supports at 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.

We prefer to take long position on USD/ZAR only above 14.10, stop loss at 13.90 and target of 14.22/14.32.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.