- USD/ZAR is currently trading around 12.31 levels.
- It made intraday high at 12.37 and low at 12.29 levels.
- Intraday bias remains neutral till the time pair holds key resistance at 12.37 mark.
- A daily close above 12.34 will take the parity higher towards key resistances around 12.45, 12.61, 12.77 and 12.90 marks respectively.
- Alternatively, a daily close below 12.34 will drag the parity down towards key supports at 12.15, 12.02, 11.94, 11.84, 11.70, 11.62 and 11.53 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 around 12.30, stop loss at 12.40 and target of 12.02.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro- Major European Indices
FxWirePro: GBP/AUD gains some upside momentum but still bearish
FxWirePro: GBP/NZD down trend loses steam, remains on bearish path
FxWirePro: GBP/AUD positions for another drop, eyes 1.8900level
BTC/USD Eyeing 80,000 USD: Bullish Buy-the-Dip Opportunity Amid Geopolitical Friction
NZD/JPY Eyeing 95.00: Bullish Trend Holds Amid Strategic Consolidation
FxWirePro: AUD/USD retreats slightly but trend is still bullish
FxWirePro: USD/ZAR recovers slightly but trend is still bearish
FxWirePro:NZD/USD uptrend loses momentum but bullish setup remains
FxWirePro: USD/CAD recovers slightly but bearish outlook persists
FxWirePro: USD/JPY holding bid into weekend
Ethereum Consolidates: Bullish Technicals Point to a Potential $3,000 Breakout
FxWirePro- Major European indices
Energy Surge Ignites US Inflation: USDCHF Eyes Support Amid Dollar Sell-Off
FxWirePro: NZD/USD softens on Iran peace talk failure
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/AUD downtrend loses steam but outlook still bearish 



