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FxWirePro: USD/ZAR edges higher, set to stay on back foot 
- USD/ZAR is currently trading around 14.76 levels.
- It made intraday high at 14.90 and low at 14.75 levels.
- Intraday bias remains neutral till the time pair holds immediate support at 14.59 mark.
- A daily close above 14.92 will take the parity higher towards key resistances around 15.06, 15.22, 15.32, 15.53, 15.73,15.98 and 16.24 marks respectively.
- Alternatively, a daily close below 14.67 will drag the parity down towards key supports at 14.59, 14.30, 14.17 and 14.05 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Africa will release CPI as well as core CPI data at 0800 GMT.
We prefer to take short position on USD/ZAR around 14.80, stop loss at 14.92 and target of 14.59/14.30.
