Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR trades in narrow range, sustained close below 13.73 requires for downside rally

  • USD/ZAR is currently trading around 13.76 levels.
  • It made intraday high at 13.79 and low at 13.72 levels.
     
  • Intraday bias remains neutral till the time pair holds key support at 13.72 mark.
     
  • A daily close above 13.72 will take the parity higher towards key resistances around 13.94, 14.02, 14.17, 14.40, 14.50, 14.78, 14.94, 15.06, 15.22 and 15.32 marks respectively.
     
  • Alternatively, a daily close below 13.72 will drag the parity down towards key supports at 13.56, 13.40, 13.18 and 13.01 levels respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/ZAR only below 13.72, stop loss at 13.94 and target of 13.40.

  • Market Data
Close

Welcome to EconoTimes

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