• USD/ZAR is currently trading around 14.18 levels.

• It made intraday high at 14.23 and low at 14.12 levels.
   
• Intraday bias remains neutral till the time pair holds immediate support at 14.12 mark.
   
• A daily close above 14.12 will take the parity higher towards key resistances around 14.37, 14.50, 14.70, 14.94, 15.06, 15.22 and 15.32 marks respectively.
   
• Alternatively, a daily close below 14.12 will drag the parity down towards key supports at 14.05, 13.82 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. Current downside movement is short term trend correction only.
   
• South Africa will release PPI data at 0930 GMT.
  
  We prefer to take short position on USD/ZAR around 14.15, stop loss at 14.38 and target of 13.82.