• FxWirePro: USD/ZAR jumps above 18.03 Mark, stay long

    Source: FxWire Pro - Technicals / 01 Apr 2020 05:48:49   America/New_York

    • USD/ZAR is currently trading around 17.99 levels.
    • It made intraday high at 18.07 and low at 17.80 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at 17.80 mark.
       
    • A daily close above 18.00 will take the parity higher towards key resistances around 18.12, 18.22 and 18.40 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 17.95, stop loss at 17.80 and target of 18.22/18.40.

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