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- USD/ZAR is currently trading around 14.34 levels.
- It made intraday high at 14.38 and low at 14.23 levels.
- Intraday bias remains bullish till the time pair holds key support at 14.12 mark.
- A daily close above 14.24 will take the parity higher towards key resistances around 14.40, 14.75, 14.94 and 15.26 marks respectively.
- Alternatively, a daily close below 14.24 will drag the parity down towards key supports at 14.12, 14.02, 13.87, 13.78, 13.70 and 13.50 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 only above 14.40, stop loss at 14.22 and target of 14.72.
