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- USD/ZAR is currently trading around 14.91 levels.
- It made intraday high at 14.98 and low at 14.87 levels.
- Intraday bias remains bullish till the time pair holds key support at 14.70 marks.
- A daily close above 14.99 will take the parity higher towards key resistances around 15.26, 15.48 and 15.76 marks respectively.
- Alternatively, a daily close below 14.94 will drag the parity down towards key supports at 14.70, 14.40, 14.22, 14.12, 14.02, 13.87, 13.78, 13.70 and 13.50 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 only above 14.99, stop loss at 14.70 and target of 15.48.
