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- USD/ZAR is currently trading around 13.87 levels.
- It made intraday high at 13.91 and low at 13.62 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.39 mark.
- A daily close above 13.64 will take the parity higher towards key resistances around 14.01, 14.28 and 14.57 marks respectively.
- Alternatively, a daily close below 13.64 will drag the parity down towards key supports at 13.39, 13.16, 12.99, 12.70, 12.51 and 12.40 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 long position on USD/ZAR around 13.75, stop loss 13.62 and target of 14.28.
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