FxWirePro: South African rand strengthens against US dollar, good to sell on rallies

• USD/ZAR is currently trading around 14.7205.
   
• It made intraday high at 14.7899 and low at 14.6240 levels.
   
• South Africa's rand breaks through 15.0000 marks for first time since late December and remains supported below it.
   
• Intraday bias remains bearish for the moment.
   
• A daily close below 14.75 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 14.75, stop loss 14.96 and target 14.53 levels.