FxWirePro: USD/ZAR breaks key support at 13.90 mark, stay bearish

• USD/ZAR is currently trading around 13.88 levels.

• It made intraday high at 13.91 and low at 13.88 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 14.02 marks.
   
• A daily close above 13.90 will take the parity higher towards key resistances around 14.02, 14.22, 14.40, 14.70, 14.94 and 15.26 marks respectively.
   
• Alternatively, a daily close below 13.90 will drag the parity down towards key supports at 13.78, 13.50 and 13.26 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position on USD/ZAR around 13.90, stop loss at 14.02 and target of 13.78/13.50.