Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR trades in narrow range, bias remains neutral

  • USD/ZAR is currently trading around 14.31 levels.
  • It made intraday high at 14.31 and low at 14.22 levels.
     
  • Intraday bias remains neutral for the moment.
     
  • A daily close above 14.40 will take the parity higher towards key resistances around 14.52, 14.72, 14.90, 15.18,  15.44,  15.98 and 16.24 marks respectively.
     
  • Alternatively, a daily close below 14.15 will drag the parity down towards key supports at 14.05, 13.65, 13.50, 13.40, 13.22, 13.10, 12.99 and 12.70 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 short position on USD/ZAR only below 14.22, stop loss at 14.40 and target of 13.90.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.