• FxWirePro: USD/ZAR moves in stiff boundaries, faces strong resistance at 19.00 Mark

    Source: FxWire Pro - Technicals / 20 Apr 2020 05:51:48   America/New_York

    • USD/ZAR is currently trading around 18.78 levels.
    • It made intraday high at 18.94 and low at 18.73 levels.
       
    • Intraday bias remains neutral till the time pair holds key resistance at 19.00 mark.
       
    • A daily close above 19.00 will the parity higher towards key resistances around 19.09, 19.32 and 19.54 marks respectively.
       
    • Alternatively, a daily close below 18.64 will drag the parity down towards key supports at 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 only above 19.00, stop loss at 18.64 and target of 19.54.

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