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- USD/ZAR is currently trading around 13.50 levels.
- It made intraday high at 13.57 and low at 13.47 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.25 marks.
- A daily close above 13.53 will take the parity higher towards key resistances around 13.70, 13.94, 14.12, 14.28 and 14.57 marks respectively.
- Alternatively, a daily close below 13.53 will drag the parity down towards key supports at 13.25, 13.16, 12.99, 12.70, 12.51 and 12.40 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 13.50, stop loss 13.40 and target of 13.70/13.94.
