- USD/ZAR is currently trading around 19.15 levels.
- It made intraday high at 19.17 and low at 18.86 levels.
- Intraday bias remains bullish till the time pair holds key support at 18.86 mark.
- A daily close above 19.00 will the parity higher towards key resistances around 19.32, 19.54 and 19.77 marks respectively.
- Alternatively, a daily close below 18.94 will drag the parity down towards key supports at 18.72, 18.40, 18.02, 17.91, 17.70, 17.30 and 17.02 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 around 19.10, stop loss at 18.80 and target of 19.32/19.54.
