- USD/ZAR is currently trading around 14.17 levels.
- It made intraday high at 14.20 and low at 14.13 levels.
- Intraday bias remains bearish for the movement.
- A daily close above 14.26 will take the parity higher towards key resistances around 14.22, 14.40, 14.70, 14.94 and 15.26 marks respectively.
- Alternatively, a daily close below 14.15 will drag the parity down towards key supports at 14.02, 13.90, 13.83, 13.70, 13.40 and 13.26 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 short position on USD/ZAR only below 14.11, stop loss at 14.25 and target of 14.02/13.90.


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