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- USD/ZAR is currently trading around 14.98 levels.
- It made intraday high at 14.98 and low at 14.73 levels.
- Intraday bias remains bullish till the time pair holds immediate support at 14.60 mark.
- A daily close above 14.86 will take the parity higher towards key resistances around 14.94, 15.06, 15.22 and 15.32 marks respectively.
- Alternatively, a daily close below 14.86 will drag the parity down towards key supports at 14.60, 14.27, 13.90, 13.82, 13.68 and 13.56 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 14.88, stop loss at 14.60 and target of 15.22.
