FxWirePro: USD/ZAR hovers around key resistance at 12.96 mark, consistent close above targets 13.22

• USD/ZAR is currently trading around 12.96 levels.

• It made intraday high at 12.96 and low at 12.88 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 12.96 will take the parity higher towards key resistances around 13.13, 13.22, 13.30, 13.52, 13.62, 13.70, 13.95, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 ma markets respectively.
   
• Alternatively, a daily close below 12.96 will drag the parity down towards key supports at 12.82, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take long position on USD/ZAR only above 13.02 mark, stop loss 12.92 and target of 13.22.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest