- USD/ZAR is currently trading around 14.19 levels.
- It made intraday high at 14.22 and low at 14.18 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 14.27 mark.
- A daily close above 14.21 will take the parity higher towards key resistances around 14.27, 14.38 and 14.64 marks respectively.
- Alternatively, a daily close below 14.12 will drag the parity down towards key supports at 14.02, 13.93, 13.78, 13.70, 13.50, 13.36, 13.22, 13.07, 12.94 and 12.66 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 GDP data at 0930 GMT.
- South Africa Feb 2019 std bank whole econ PMI increase to 50.2 vs previous 49.6.
We prefer to take long position on USD/ZAR around 14.15, stop loss at 14.02 and target of 14.38.
