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- USD/ZAR is currently trading around 13.46 levels.
- It made intraday high at 13.48 and low at 13.34 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.27 mark.
- A daily close above 13.37 will take the parity higher towards key resistances around 13.51, 13.62, 13.70 and 13.90 ma markets respectively.
- Alternatively, a daily close below 13.37 will drag the parity down towards key supports at 13.26, 13.10, 12.96, 12.87, 12.70, 12.48, 12.30, 12.22 and 12.14 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 13.40, stop loss 13.26 and target of 13.70.
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