FxWirePro: South African rand falls gradually against U.S. dollar, bias remains neutral

• USD/ZAR is currently trading around 13.10 levels.

• It made intraday high at 13.12 and low at 13.08 levels.
   
• Intraday bias remains neutral for the moment.
   
• A daily close above 13.10 will take the parity higher towards key resistances around 13.16, 13.31, 13.42, 13.58, 13.70, 13.95, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
   
• Alternatively, a daily close below 13.10 will drag the parity down towards key supports at 12.96, 12.83, 12.67, 12.48, 12.30, 12.22 and 12.14 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.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.