FxWirePro: USD/ZAR rejects key support at 13.90 mark, good to buy on dips

• USD/ZAR is currently trading around 13.96 levels.

• It made intraday high at 14.08 and low at 13.95 levels.
   
• Intraday bias remains bearish for the moment.
   
• A daily close above 13.96 will take the parity higher towards key resistances around 14.07, 14.20, 14.32, 14.49, 14.68 and 14.77 marks respectively.
   
• Alternatively, a daily close below 13.96 will drag the parity down towards key supports at 13.70, 13.46, 13.38, 13.20, 13.01, 12.96, 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 long position on USD/ZAR around 14.04, stop loss 13.90 and target of 14.32 mark.

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