Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/ZAR breaks key support at 14.20 mark, good to sell on rallies

  • USD/ZAR is currently trading around 14.14 levels.
  • It made intraday high at 14.19 and low at 14.11 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 14.43 marks.   
     
  • A daily close above 14.43 will take the parity higher towards key resistances around 14.68, 14.96, 15.05, 15.28, 15.45, 15.66, 15.77, 15.86(February 29, 2016 high) and 16.15 marks respectively.
     
  • Alternatively, a daily close below 14.10 will drag the parity down towards key supports at 13.96, 13.70, 13.57, 13.31, 13.19, 13.01, 12.82 and 12.58 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 go short on USD/ZAR only below 14.10, stop loss 14.43 and target of 13.96/13.75/13.31.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.