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- USD/ZAR is currently trading around 13.30 levels.
- It made intraday high at 13.37 and low at 13.21 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.02 marks.
- A daily close above 13.26 will take the parity higher towards key resistances around 13.37, 13.52, 13.70, 13.94, 14.12, 14.28 and 14.57 marks respectively.
- Alternatively, a daily close below 13.10 will drag the parity down towards key supports at 12.99, 12.70, 12.51 and 12.40 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/ZAR around 13.25, stop loss 13.02 and target of 13.52.
