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FxWirePro: USD/ZAR edges higher, set to stay on back foot 
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- USD/ZAR is currently trading around 13.96 levels.
- It made intraday high at 13.97 and low at 13.89 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.83 marks.
- A daily close above 14.02 will take the parity higher towards key resistances around 14.22, 14.40, 14.70, 14.94 and 15.26 marks respectively.
- Alternatively, a daily close below 13.83 will drag the parity down towards key supports at 13.70, 13.40 and 13.26 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to take long position on USD/ZAR around 13.95, stop loss at 13.80 and target of 14.22.
