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FxWirePro: USD/ZAR bears maintain upper hand 
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FxWirePro: USD/ZAR edges higher, set to stay on back foot 
FxWirePro- Major European Indices 
- USD/ZAR is currently trading around 13.90 levels.
- It made intraday high at 13.96 and low at 13.89 levels.
- Intraday bias remains bearish till the time pair holds key resistance at 14.02 marks.
- A daily close above 13.96 will take the parity higher towards key resistances around 14.02, 14.22, 14.40, 14.70, 14.94 and 15.26 marks respectively.
- Alternatively, a daily close below 13.96 will drag the parity down towards key supports at 13.89, 13.78, 13.50 and 13.26 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/ZAR around 13.95, stop loss at 14.10 and target of 13.78/13.50.
