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- USD/ZAR is currently trading around 15.09 levels.
- It made intraday high at 15.09 and low at 15.00 levels.
- Intraday bias remains bullish till the time pair holds key support at 14.96 mark.
- A daily close above 15.06 will take the parity higher towards key resistances around 15.26, 15.48 and 15.87 marks respectively.
- Alternatively, a daily close below 14.94 will drag the parity down towards key supports at 14.70, 14.57, 14.27, 14.02, 13.90 and 13.83 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 15.02, stop loss at 14.90 and target of 15.26/15.48.
