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- USD/ZAR is currently trading around 15.52 levels.
- It made intraday high at 15.59 and low at 14.28 levels.
- Intraday bias remains bullish till the time pair holds key support at 15.12 marks.
- A daily close below 15.28 will drag the parity down towards key supports at 15.12, 14.90, 14.71, 14.43(20D EMA) and 14.19 (May 03, 2016 low) levels respectively.
- Alternatively, a daily close above 15.28 will take the parity higher towards key resistances around 15.77, 15.86(February 29, 2016 high) and 16.15 marks respectively.
We prefer to take long position on USD/ZAR only above 15.59 with stop loss at 15.12 and target of 16.15 marks.
