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- USD/ZAR is currently trading around 14.96 levels.
- It made intraday high at 15.03 and low at 14.91 levels.
- Intraday bias remains bullish till the time pair holds immediate support at 14.66 mark.
- A daily close above 14.92 will take the parity higher towards key resistances around 15.08, 15.22, 15.32, 15.53, 15.73,15.98 and 16.24 marks respectively.
- Alternatively, a daily close below 14.92 will drag the parity down towards key supports at 14.60, 14.30 and 14.05 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 14.90, stop loss at 14.70 and target of 15.22.
