USD/ZAR rebounded from session lows at 13.3158, and has taken support by 4-hourly cloud base at 13.3714.
- Price action is contained within the daily cloud but still above the 10-day moving average line
- USD/ZAR is currently trading at 13.3839, with immediate resistance at 13.4924 (Daily Cloud Top) ahead of 13.5990 (Daily High Oct 22)
- On the downside, supports are located at 13.3714 (4-hourly cloud base), then at 13.3018 (10-Day MA) and further below at 13.1551 (Daily Cloud Base)
Recommendation: Good to buy dips around 13.3715, SL: 13.3020, TP: 13.4900
Resistance Levels:
R3: 13.6100 (21-Day MA)
R2: 13.5990 (Daily High Oct 22)
R1: 13.4924 (Daily Cloud Top)
Support Levels:
S1: 13.3018 (10-Day MA)
S2: 13.1551 (Daily Cloud Base)
S3: 13.0100 (Daily Low Oct 19)
