- USD/ZAR is currently trading around 13.78 levels.
- It made intraday high at 13.89 and low at 13.72 levels.
- Intraday bias remains slightly bearish till the time pair holds key resistance at 13.99 mark.
- A daily close above 13.85 will take the parity higher towards key resistances around 13.99, 14.12, 14.28 and 14.57 marks respectively.
- Alternatively, a daily close below 13.42 will drag the parity down towards key supports at 13.22, 13.16, 12.99, 12.70, 12.51 and 12.40 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 only above 13.99, stop loss 13.65 and target of 14.28.
