- USD/ZAR is currently trading around 14.23 levels.
- It made intraday high at 14.26 and low at 14.20 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 14.27 mark.
- A daily close above 14.25 will take the parity higher towards key resistances around 14.38, 14.50, 14.64 and 14.94 marks respectively.
- Alternatively, a daily close below 14.25 will drag the parity down towards key supports at 14.02, 13.93, 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.
- South Africa will release current account data at 0900 GMT.
We prefer to take long position on USD/ZAR only above 14.27, stop loss at 14.15 and target of 14.50.


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