- USD/ZAR is currently trading around 13.70 levels.
- It made intraday high at 13.70 and low at 13.64 levels.
- Intraday bias remains slightly bullish till the time pair holds key support 13.58 mark.
- A daily close above 13.65 will take the parity higher towards key resistances around 13.70, 13.94, 14.02, 14.12, 14.32, 14.50, 14.78 and 14.99 marks respectively.
- Alternatively, a daily close below 13.65 will drag the parity down towards key supports at 13.53, 13.26 and 13.07 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on USD/ZAR around 13.68, stop loss at 13.58 and target of 13.94.
