FxWirePro: USD/ZAR remains well supported above 13.00 mark, good to buy on dips
USD/ZAR is currently trading around 13.17 levels. It made intraday high at 13.24 and low at 13.00 levels. Intraday bias remains bullish till the time pair holds key support at 12.99 mark. A daily close above 13.15 will t…
It made intraday high at 13.24 and low at 13.00 levels.
Intraday bias remains bullish till the time pair holds key support at 12.99 mark.
A daily close above 13.15 will take the parity higher towards key resistances around 13.28, 13.53, 13.80 and 14.01 marks respectively.
Alternatively, a daily close below 13.15 will drag the parity down towards key supports at 12.99, 12.70, 12.51, 12.40, 12.20, 12.02, 11.94 and 11.84 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 13.15, stop loss 12.99 and target of 13.53.
