- USD/ZAR is currently trading around 12.52 levels.
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It made intraday high at 12.62 and low at 12.51 levels.
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Intraday bias remains slightly bearish till the time pair holds key
resistance at 12.62 mark.
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A daily close above 12.62 will take the parity higher towards key
resistances around 12.78, 12.86, 12.96 and 13.15 marks respectively.
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Alternatively, a daily close below 12.42 will drag the parity down
towards key supports at 12.20, 12.02, 11.94, 11.84, 11.70, 11.62 and
11.53 levels respectively.
- Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
