FxWirePro: USD/ZAR fails to find support above 14.94 mark, bias turns bearish again

• USD/ZAR is currently trading around 14.83 levels.

• It made intraday high at 14.96 and low at 14.81 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 15.02 mark.
   
• A daily close above 14.94 will take the parity higher towards key resistances around 15.02, 15.22, 15.40, 15.70, 15.92 and 16.10 marks respectively.
   
• Alternatively, a daily close below 14.94 will drag the parity down towards key supports at 14.72, 14.55, 14.40, 14.22 and 14.05 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 short position on USD/ZAR around 14.85, stop loss at 15.02 and target of 14.55.