FxWirePro: USD/ZAR spikes up in Asian hours; hits highest level since Jan 01, 2016

• USD/ZAR is currently trading around 16.25 levels.

• It made intraday high at 16.95 and low at 15.79 levels.
   
• Intraday bias remains bullish till the time pair holds key support at 15.67 mark.
   
• A daily close above 15.67 will take the parity higher towards key resistances around 16.95, 17.34, 17.58 and 17.88 marks respectively.
   
• Alternatively, a daily close below 15.36 will drag the parity down towards key supports at 15.10, 15.02, 14.94, 14.72 and 14.50 levels respectively.
   
• Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

Positioning is inconclusive at this point. We remain sideways for the time being.