FxWirePro: USD/ZAR touches 14.06 mark, highest level since Jan 04

• USD/ZAR is currently trading around 13.97 levels.

• It made intraday high at 14.05 and low at 13.95 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance 14.06 mark.
   
• A daily close above 14.05 will take the parity higher towards key resistances around 14.02, 14.15 and 14.38 marks respectively.
   
• Alternatively, a daily close below 14.05 will drag the parity down towards key supports at 13.90, 13.70, 13.50, 13.36, 13.22, 13.07, 12.94 and 12.66 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 long position on USD/ZAR only above 14.06, stop loss at 13.90 and target of 14.38.