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- USD/ZAR is currently trading around 13.17 levels.
- It made intraday high at 13.24 and low at 13.00 levels.
- Intraday bias remains bullish till the time pair holds key support at 12.99 mark.
- A daily close above 13.15 will take the parity higher towards key resistances around 13.28, 13.53, 13.80 and 14.01 marks respectively.
- Alternatively, a daily close below 13.15 will drag the parity down towards key supports at 12.99, 12.70, 12.51, 12.40, 12.20, 12.02, 11.94 and 11.84 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 13.15, stop loss 12.99 and target of 13.53.
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