FxWirePro: USD/ZAR trades in narrow range, bias remains neutral
USD/ZAR is currently trading around 13.48 levels. It made intraday high at 13.50 and low at 13.40 levels. Intraday bias remains neutral till the time pair holds key resistance at 13.82 marks. A daily close above 13.45 wi…
It made intraday high at 13.50 and low at 13.40 levels.
Intraday bias remains neutral till the time pair holds key resistance at 13.82 marks.
A daily close above 13.45 will take the parity higher towards key resistances around 13.75, 13.95, 14.16, 14.29, 14.50, 14.75, 14.96, 15.05, 15.28 and 15.45 marks respectively.
Alternatively, a daily close below 13.45 will drag the parity down towards key supports at 13.20, 12.95, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
