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FxWirePro: USD/ZAR stabilises above key support at 14.88, good to buy on dips

Tuesday, June 7, 2016 6:15 AM UTC

USD/ZAR is currently trading around 14.9220 levels.
It made intraday high at 14.94 and low at 14.88 levels.
Intraday bias remains slightly bullish for the moment and downside is limited as 20D, 30D and 55D EMA heads up and confirms bullish trend.
A daily close below 14.88 will drag the parity down towards key support at 14.74, 14.64 (March 31, 2016 low) and 14.43(20D EMA) levels respectively.
Alternatively, reversal from key support will take the parity higher towards key resistances around 15.17, 15.61, 15.86(February 29, 2016 high) and 16.15 marks respectively.

We prefer to take long position in USD/ZAR only above 14.96, stop loss 14.88 and target 15.17/ 15.41 marks.

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FxWirePro: USD/ZAR stabilises above key support at 14.88, good to buy on dips

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