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- USD/ZAR is currently trading around 15.24 levels.
- It made intraday high at 15.26 and low at 15.18 levels.
- Intraday bias remains bullish till the time pair holds key support at 15.02 mark.
- A daily close above 15.22 will take the parity higher towards key resistances around 15.40, 15.70, 15.92 and 16.10 marks respectively.
- Alternatively, a daily close below 15.20 will drag the parity down towards key supports at 15.02, 14.94, 14.72, 14.50, 14.32, 14.15, 14.02, 13.83, 13.65 and 13.47 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 15.20, stop loss at 15.10 and target of 15.40/15.70.
