• FxWirePro: USD/ZAR touches 18.02 Mark in European hours, good to sell on rallies

    来源: FxWire Pro - Technicals / 03 五月 2020 04:28:01   America/New_York

    • USD/ZAR is currently trading around 18.09 levels.
    • It made intraday high at 18.23 and low at 18.02 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 18.40 mark.
       
    • A daily close above 18.14 will drag the parity higher towards key resistances around 18.40, 18.70, 18.94, 19.18, 19.32, 19.54 and 19.77 marks respectively.
       
    • Alternatively, a daily close below 18.14 will drag the parity down towards key supports at 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. Current downside movement is short term trend correction only.

    We prefer to take short position on USD/ZAR around 18.15, stop loss at 18.40 and target of 17.70.

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