Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: South African rand trades marginally higher ahead of employment rate data

  • USD/ZAR is currently trading around 14.64 levels.
  • It made intraday high at 14.72 and low at 14.61 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 14.71 will take the parity higher towards key resistances around 14.78, 14.94, 15.06, 15.22 and 15.32 marks respectively.
     
  • Alternatively, a daily close below 14.71 will drag the parity down towards key supports at 14.45, 14.22, 14.10, 14.02, 13.90, 13.82, 13.68 and 13.56 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 employment rate data at 0930 GMT.

We prefer to take long position on USD/ZAR only above 14.72, stop loss at 14.45 and target of 14.94/15.06.

  • Market Data
Close

Welcome to EconoTimes

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