FxWirePro: USD/ZAR hovers around key support at 13.40 mark, consistent close below targets 13.18 mark

• USD/ZAR is currently trading around 13.43 levels.

• It made intraday high at 13.48 and low at 13.41 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 13.55 mark.
   
• A daily close above 13.55 will take the parity higher towards key resistances around 13.70, 13.80, 13.95, 14.15 and 14.32 marks respectively.
   
• Alternatively, a daily close below 13.40 will drag the parity down towards key supports at 13.26, 13.18, 13.01, 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. Current down side movement is short term t rend correction only.

We prefer to take short position on USD/ZAR around 13.45, stop loss 13.55 and target of 13.26/13.18.

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