- USD/ZAR is currently trading around 14.58 levels.
- It made intraday high at 14.61 and low at 14.53 levels.
- Intraday bias remains neutral for the moment.
- A daily close above 14.60 will take the parity higher towards key resistances around 14.78, 14.94, 15.06, 15.22 and 15.32 marks respectively.
- Alternatively, a daily close below 14.60 will drag the parity down towards key supports at 14.45, 14.22, 14.10, 14.02, 13.90, 13.82, 13.68 and 13.56 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
- South Africa Sep 2018 private sector credit extension decrease to 6.26 % vs previous 6.74 %.
- South Africa Sep 2018 M3 money supply yy increase to 7 % vs previous 6.95 %.
We prefer to take long position on USD/ZAR only above 14.62, stop loss at 14.45 and target of 14.94/15.06.
