- USD/ZAR is currently trading around 15.31 levels.
- It made intraday high at 15.44 and low at 15.21 levels.
- Intraday bias remains neutral till the time pair holds key support at 15.11 marks.
- A daily close above 15.46 will take the parity higher towards key resistances around 15.70, 15.92 and 16.10 marks respectively.
- Alternatively, a daily close below 15.12 will drag the parity down towards key supports at 15.02, 14.94, 14.70 and 14.57 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 15.50, stop loss at 15.12 and target of 15.92.
