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FxWirePro: USD/ZAR sustains gains as uptrend remains strong 
- USD/ZAR is currently trading around 18.65 levels.
- It made intraday high at 18.77 and low at 18.44 levels.
- Intraday bias remains bullish till the time pair holds key support at 18.45 mark.
- A daily close above 18.45 will take the parity higher towards key resistances around 18.90, 19.02, 19.28 and 19.54 marks respectively.
- Alternatively, a daily close below 18.45 will drag the parity down towards key supports at 18.07, 17.60, 17.30, 17.02, 16.70, 16.40, 16.22, 16.00 and 15.70 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’s standard bank PMI stands at 44.5 vs 48.4 previous release.
We prefer to take long position on USD/ZAR around 18.60, stop loss at 18.40 and target of 19.02/19.28.
