FxWirePro: USD/ZAR hovers around 13.00 mark, bias remains neutral

• USD/ZAR is currently trading around 13.01 levels.

• It made intraday high at 13.04 and low at 13.00 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at 13.05 mark.
   
• A daily close above 13.05 will take the parity higher towards key resistances around 13.21, 13.30, 13.55, 13.70, 13.95, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
   
• Alternatively, a daily close below 12.88 will drag the parity down towards key supports at 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.

We prefer to take long position in USD/ZAR only above 13.06, stop loss 12.88 and target of 13.21/13.30.

 

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest