Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR remains well supported above 15.12 mark, intraday bias remains bullish

  • USD/ZAR is currently trading around 15.17 levels.
     
  • It made intraday high at 15.21 and low at 15.12 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 15.12 marks.   
     
  • A daily close below 15.12 will drag the parity down towards key supports at 14.96, 14.72, 14.64 (March 31, 2016 low) and 14.43(20D EMA) levels respectively.
     
  • On the top side, key resistance is seen at 15.29 marks. A sustained close above it is required to drag the parity higher.
     
  • Alternatively, current upward trend will take the parity higher towards key resistances around 15.29, 15.61, 15.86(February 29, 2016 high) and 16.15 marks respectively.

We prefer to take long position in USD/ZAR around 15.15, stop loss 14.95 and target 15.61 marks.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.