FxWirePro: USD/ZAR hits fresh 2 – week high at 19.17 mark, stay long
USD/ZAR is currently trading around 19.15 levels. It made intraday high at 19.17 and low at 18.86 levels. Intraday bias remains bullish till the time pair holds key support at 18.86 mark. A daily close above 19.00 will t…
It made intraday high at 19.17 and low at 18.86 levels.
Intraday bias remains bullish till the time pair holds key support at 18.86 mark.
A daily close above 19.00 will the parity higher towards key resistances around 19.32, 19.54 and 19.77 marks respectively.
Alternatively, a daily close below 18.94 will drag the parity down towards key supports at 18.72, 18.40, 18.02, 17.91, 17.70, 17.30 and 17.02 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 19.10, stop loss at 18.80 and target of 19.32/19.54.
