FxWirePro: USD/ZAR trades in narrow range, stay bearish only below 13.42 mark
Source: FxWire Pro - Technicals / 14 Dec 2017 02:40:53 Eastern Standard Time
- USD/ZAR is currently trading around 13.48 levels.
- It made intraday high at 13.48 and low at 13.42 levels.
- Intraday bias remains neutral till the time pair holds key support at 13.42 mark.
- A daily close above 13.44 will take the parity higher towards key resistances around 13.57, 13.75, 13.82, 13.94, 14.11, 14.23, 14.45, 14.51, 14.57, 14.68 and 14.77 marks respectively.
- Alternatively, a daily close below 13.42 will drag the parity down towards key supports at 13.20, 13.01, 12.96, 12.87, 12.70, 12.48, 12.30, 12.22 and 12.14 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take short position on USD/ZAR only below 13.42, stop loss 13.57 and target of 13.20/13.01 mark.
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