• FxWirePro: USD/ZAR hits fresh record high at 18.28 Mark, stay long

    Source: FxWire Pro - Technicals / 02 Apr 2020 05:07:56   America/New_York

    • USD/ZAR is currently trading around 18.20 levels.
    • It made intraday high at 18.28 and low at 18.07 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 17.80 mark.
       
    • A daily close above 18.22 will take the parity higher towards key resistances around 18.40, 18.68, 18.90 and 19.02 marks respectively.
       
    • Alternatively, a daily close below 17.83 will drag the parity down towards key supports at 17.60, 17.30, 17.02, 16.70, 16.40, 16.22, 16.00 and 15.70 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 18.15, stop loss at 17.80 and target of 18.40/18.68.

Share on,