Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR touches 15.64 mark, hits highest level since September 2018

  • USD/ZAR is currently trading around 15.56 levels.
  • It made intraday high at 15.64 and low at 15.46 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 15.22 mark.
     
  • A daily close above 15.48 will take the parity higher towards key resistances around 15.70, 15.92, 16.10 and 16.28 marks respectively.
     
  • Alternatively, a daily close below 15.48 will drag the parity down towards key supports at 15.22, 15.02, 14.94, 14.72 and 14.50 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
     
  • South Africa will release trade balance data around 1200 GMT.

We prefer to take long position on USD/ZAR around 15.55, stop loss at 15.40 and target of 15.92/16.10.

  • Market Data
Close

Welcome to EconoTimes

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