FxWirePro: USD/ZAR remains well supported below key resistance at 15.29, intraday bias remains neutral
USD/ZAR is currently trading around 15.17 levels. It made intraday high at 15.26 and low at 15.16 levels. Intraday bias remains neutral for the moment. A daily close below 14.96 will drag the parity down towards key supp…
It made intraday high at 15.26 and low at 15.16 levels.
Intraday bias remains neutral for the moment.
A daily close below 14.96 will drag the parity down towards key support at 14.72, 14.64 (March 31, 2016 low) and 14.43(20D EMA) levels respectively.
On the top side, key
resistance is seen at 15.29 marks. A sustained close above it is required to drag the parity higher.
Alternatively, current upward trend will take the parity higher towards key resistances around 15.29, 15.61, 15.86(February 29, 2016 high) and 16.15 marks respectively.
We prefer to take long position in USD/ZAR only above 15.29, stop loss 14.98 and target 15.61 marks.
