FxWirePro: South African rand trades almost flat against U.S. dollar, bias remains neutral

• USD/ZAR is currently trading around 12.75 levels.

• It made intraday high at 12.77 and low at 12.72 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 12.75 marks.     
   
• A daily close above 12.75 will take the parity higher towards key resistances around 12.90, 13.01, 13.20, 13.33, 13.50, 13.59, 13.65, 13.77, 13.85, 13.96, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
   
• Alternatively, a daily close below 12.75 will drag the parity down towards key supports at 12.62, 12.50, 12.38 and 12.22 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.