• FxWirePro: USD/ZAR rejects key support at 14.18 Mark, stay long

    Source: FxWire Pro - Technicals / 24 Sep 2018 02:50:17   America/New_York

    • USD/ZAR is currently trading around 14.41 levels.
    • It made intraday high at 14.42 and low at 14.33 levels.
       
    • Intraday bias remains bullish till the time pair holds immediate support at 14.18 mark.
       
    • A daily close above 14.30 will take the parity higher towards key resistances around 14.50, 14.70, 14.94, 15.06, 15.22 and 15.32 marks respectively.
       
    • Alternatively, a daily close below 14.30 will drag the parity down towards key supports at 14.18, 14.05 and 13.82 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 14.35, stop loss at 14.18 and target of 14.70.

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