- USD/ZAR is currently trading around 13.88 levels.
- It made intraday high at 13.96 and low at 13.88 levels.
- Intraday bias remains slightly bearish for the moment.
- A daily close above 13.94 will take the parity higher towards key resistances around 14.02, 14.12, 14.32, 14.50, 14.78 and 14.99 marks respectively.
- Alternatively, a daily close below 13.87 will drag the parity down towards key supports at 13.72, 13.53, 13.26 and 13.07 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 short position on USD/ZAR around 13.92, stop loss at 14.12 and target of 13.53.
