- USD/ZAR is currently trading around 13.86 levels.
- It made intraday high at 13.87 and low at 13.80 levels.
- Intraday bias remains slightly bullish for the moment.
- A daily close above 13.83 will take the parity higher towards key resistances around 13.94, 14.02, 14.17, 14.40, 14.50 and 14.78 marks respectively.
- Alternatively, a daily close below 13.83 will drag the parity down towards key supports at 13.53, 13.40, 13.18 and 13.01 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
- South Africa Nov 2018 std bank whole econ PMI increase to 48.2 vs previous 46.9.
We prefer to take long position on USD/ZAR only above 13.93, stop loss at 13.77 and target of 14.17/14.40.
