FxWirePro: USD/ZAR consolidates around 14.00 mark, short term trend reversal likely

• USD/ZAR is currently trading around 14.03 levels.

• It made intraday high at 14.07 and low at 14.01 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 14.00 mark.
   
• A daily close above 14.02 will take the parity higher towards key resistances around 14.20, 14.32, 14.49, 14.68 and 14.77 marks respectively.
   
• Alternatively, a daily close below 14.02 will drag the parity down towards key supports at 13.98, 13.70, 13.46, 13.38, 13.20, 13.01, 12.96, 12.87, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on USD/ZAR only below 14.00, stop loss 14.15 and target of 13.70 mark.

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