FxWirePro: Go short on USD/ZAR only below 14.96 with stop loss at 15.12 and target of 14.64
USD/ZAR is currently trading around 14.99 levels. It made intraday high at 15.09 and low at 14.98 levels. Intraday bias remains bearish till the time pair holds key resistance at 15.32 marks. A daily close below 15.00 dr…
It made intraday high at 15.09 and low at 14.98 levels.
Intraday bias remains bearish till the time pair holds key resistance at 15.32 marks.
A daily close below 15.00 drag the parity down towards key supports at 14.96, 14.72, 14.64 (March 31, 2016 low) and 14.43(20D EMA) levels respectively.
A daily close above 15.12 will take the parity higher towards key resistances around 15.32, 15.54, 15.77, 15.86(February 29, 2016 high) and 16.15 marks respectively.
We prefer to take short position on USD/ZAR only below 14.96 with stop loss at 15.12 and target of 14.72/14.64 marks.
