FxWirePro: USD/ZAR breaks key resistance at 13.94 mark, stay bullish only above 14.02 mark

• USD/ZAR is currently trading around 13.94 levels.

• It made intraday high at 13.96 and low at 13.80 levels.
   
• Intraday bias remains bullish for the moment.
   
• A daily close above 13.83 will take the parity higher towards key resistances around 13.94, 14.02, 14.17, 14.40, 14.50 and 14.78 marks respectively.
   
• Alternatively, a daily close below 13.83 will drag the parity down towards key supports at 13.72, 13.53, 13.40, 13.18 and 13.01 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
   
• South Africa will release current account data at 0900 GMT.

We prefer to take long position on USD/ZAR only above 14.02, stop loss at 13.78 and target of 14.17/14.40.