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FxWirePro: USD/ZAR gains some ground, but downtrend remains 
- USD/ZAR is currently trading around 14.54 levels.
- It made intraday high at 14.56 and low at 14.40 levels.
- Intraday bias remains bullish till the time pair holds key support at 14.20 marks.
- A daily close above 14.50 will take the parity higher towards key resistances around 14.75, 14.96, 15.05, 15.28, 15.45, 15.66, 15.77, 15.86(February 29, 2016 high) and 16.15 marks respectively.
- Alternatively, a daily close below 14.20 will drag the parity down towards key supports at 14.11, 13.96, 13.70, 13.57, 13.31, 13.19, 13.01, 12.82 and 12.58 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 go long on USD/ZAR around 14.50, stop loss 14.20 and target of 14.75/14.96.
