FXWIREPRO: South African Rand Gains 1 Percent Against US Dollar, Good to Sell on Rallies
- Pair is currently trading at 14.81 marks.
- It made intraday high at 14.98 and low at 14.75 levels.
- Intraday bias remains bearish till the time pair holds key resistance level at 15.05 levels.
- Alternatively, current downward trend will drag the parity towards key support level at 14.64/ 14.26 levels.
We prefer to take short position in USD/ZAR around 14.87, stop loss 15.05 and target 14.64/ 14.26 levels thereafter.
The material has been provided by InstaForex Company - www.instaforex.com