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FxWirePro: USD/ZAR edges higher, set to stay on back foot 
- USD/ZAR is currently trading around 14.24 levels.
- It made intraday high at 14.39 and low at 14.20 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 14.40 mark.
- A daily close above 14.37 will take the parity higher towards key resistances around 14.50, 14.78, 14.94, 15.06, 15.22 and 15.32 marks respectively.
- Alternatively, a daily close below 14.27 will drag the parity down towards key supports at 14.20, 14.02, 13.86, 13.68 and 13.56 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 short position on USD/ZAR around 14.25, stop loss at 14.50 and target of 14.02/13.86.
