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- USD/ZAR is currently trading around 15.24 levels.
- It made intraday high at 15.32 and low at 15.19 levels.
- Intraday bias remains neutral till the time pair holds immediate support at 15.02 mark.
- A daily close above 15.32 will take the parity higher towards key resistances around 15.53, 15.73,15.98 and 16.24 marks respectively.
- Alternatively, a daily close below 15.22 will drag the parity down towards key supports at 15.02, 14.82, 14.70, 14.52, 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 only above 15.32, stop loss at 15.02 and target of 15.73.
