- USD/ZAR is currently trading around 14.70 levels.
- It made intraday high at 14.79 and low at 14.65 levels.
- Intraday bias remains bullish till the time pair holds key support at 14.50 mark.
- A daily close above 14.70 will take the parity higher towards key resistances around 14.90, 15.18, 15.44, 15.98 and 16.24 marks respectively.
- Alternatively, a daily close below 14.52 will drag the parity down towards key supports at 14.30, 14.05, 13.65, 13.50 and 13.40 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on USD/ZAR around 14.70, stop loss at 14.50 and target of 14.90.
