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- USD/ZAR is currently trading around 13.63 levels.
- It made intraday high at 13.63 and low at 13.51 levels.
- Intraday bias remains bullish till the time pair holds key support at 13.50 mark.
- A daily close above 13.54 will take the parity higher towards key resistances around 13.70, 13.95 and 14.15 marks respectively.
- Alternatively, a daily close below 13.54 will drag the parity down towards key supports at 13.42, 13.26, 13.10, 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 13.57, stop loss 13.42 and target of 13.95/14.06.
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