• USD/ZAR is currently trading around 13.57 levels.

• It made intraday high at 13.57 and low at 13.51 levels.
   
• Intraday bias remains bullish till the time pair holds key support 13.36 mark.
   
• A daily close above 13.54 will take the parity higher towards key resistances around 13.70, 13.94 and 14.02 marks respectively.
   
• Alternatively, a daily close below 13.54 will drag the parity down towards key supports at 13.36, 13.22, 13.07, 12.94 and 12.66 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
   
• South Africa Jan 2019 net $gold & forex reserves increase to 43.589 usd vs previous 43.09 usd.
   
• South Africa Jan 2019 gross $gold & forex reserves decrease to 50.832 usd vs previous 51.64 usd.
  
  We prefer to take long position on USD/ZAR around 13.55, stop loss at 13.40 and target of 13.74.