• FxWirePro: USD/ZAR hits fresh 2 – week high at 19.17 Mark, stay long

    Source: FxWire Pro - Technicals / 23 Apr 2020 05:50:28   America/New_York

    • USD/ZAR is currently trading around 19.15 levels.
    • It made intraday high at 19.17 and low at 18.86 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 18.86 mark.
       
    • A daily close above 19.00 will the parity higher towards key resistances around 19.32, 19.54 and 19.77 marks respectively.
       
    • Alternatively, a daily close below 18.94 will drag the parity down towards key supports at 18.72, 18.40, 18.02, 17.91, 17.70, 17.30 and 17.02 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 long position on USD/ZAR around 19.10, stop loss at 18.80 and target of 19.32/19.54.

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