FxWirePro: USD/ZAR hovers around 13.00 mark, upside limited
USD/ZAR is currently trading around 13.04 levels. It made intraday high at 13.05 and low at 12.98 levels. Intraday bias remains neutral for the moment. A daily close above 13.01 will take the parity higher towards key re…
It made intraday high at 13.05 and low at 12.98 levels.
Intraday bias remains neutral for the moment.
A daily close above 13.01 will take the parity higher towards key resistances around 13.21, 13.30, 13.52, 13.62, 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 13.01 will drag the parity down towards key supports at 12.95, 12.87, 12.70, 12.48, 12.30, 12.22 and 12.14 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 short position on USD/ZAR around 13.07 mark, stop loss 13.22 and target of 12.70.
