FxWirePro: USD/ZAR fails to find support above 15.85 mark, South Africa’s manufacturing PMI data in focus

• USD/ZAR is currently trading around 15.50 levels.

• It made intraday high at 15.85 and low at 15.50 levels.
   
• Intraday bias remains bearish till the time pair holds key resistance at 15.85 mark.
   
• A daily close above 15.62 will take the parity higher towards key resistances around 15.92, 16.10 and 16.28 marks respectively.
   
• Alternatively, a daily close below 15.62 will drag the parity down towards key supports at 15.22, 15.02, 14.94, 14.72 and 14.50 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
   
• South Africa will release manufacturing PMI data around 0900 GMT.

Positioning is inconclusive at this point. We remain sideways for the moment.