FxWirePro: South African rand hits fresh 3-month high against US dollar, good to sell on rallies

• USD/ZAR is currently trading around 14.9240.
   
• It made intraday high at 15.22 and low at 14.89 levels.
   
• South Africa's rand breaks through 15.0000 marks for first time since late December after Yellen's dovish comments.
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 14.83 will drag the parity down towards key supports at 14.53/14.31 levels.
   
• Alternatively, reversal from key support levels will take the parity up to test key resistances at 15.22/15.42/15.92 levels.

We prefer to take short position in USD/ZAR around 15.00, stop loss 15.22 and target 14.53 levels.