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- USD/ZAR is currently trading around 14.77 levels.
- It made intraday high at 14.82 and low at 14.70 levels.
- Intraday bias remains neutral till the time pair holds key support at 14.50 marks.
- A daily close above 14.80 will take the parity higher towards key resistances around 14.94 and 15.26 marks respectively.
- Alternatively, a daily close below 14.70 will drag the parity down towards key supports at 14.50, 14.27, 14.12, 14.02 and 13.50 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 only above 14.82, stop loss at 14.70 and target of 14.99.
