FxWirePro: USD/ZAR remains well supported below 15.00 mark, South Africa’s retail sales data in focus

• USD/ZAR is currently trading around 14.78 levels.

• It made intraday high at 14.82 and low at 14.77 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 15.02 mark.
   
• A daily close above 14.82 will take the parity higher towards key resistances around 15.02, 15.22, 15.40, 15.70, 15.92 and 16.10 marks respectively.
   
• Alternatively, a daily close below 14.81 will drag the parity down towards key supports at 14.72, 14.50, 14.32, 14.15, 14.02, 13.83, 13.65 and 13.47 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 retail sales data around 1100 GMT.

We prefer to take short position on USD/ZAR around 14.80, stop loss at 14.94 and target of 14.72/14.50.