- 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.
