FxWirePro: USD/ZAR hovers around key support at 13.11 mark, consistent close below targets 12.87 mark

• USD/ZAR is currently trading around 13.13 levels.

• It made intraday high at 13.18 and low at 13.12 levels.
   
• Intraday bias remains neutral till the time pair holds key support at 13.11 marks.       
   
• A daily close above 13.11 will take the parity higher towards key resistances around 13.37, 13.48, 13.63, 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 13.11 will drag the parity down towards key supports at 12.95, 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. Current downside movement is short term trend correction only.

We prefer to take short position in USD/ZAR only below 13.11, stop loss at 13.37 and target of 12.87.