FxWirePro: South African Rand Falls Against US Dollar ahead of CPI Data
- Pair is currently trading at 15.72 marks.
- It made intraday high at 15.75 and low at 15.52 levels.
- Intraday bias remains bullish till the time pair holds key support level at 15.37 levels.
- A daily close above key resistance 15.74 will take the parity higher towards 15.92, 16.13 and 16.84 marks respectively.
- On the other side, key support levels are seen at 15.37, 15.13 and 14.67 marks respectively.
- South Africa will release CPI as well as core CPI data at 0800 GMT.
We prefer to take long position in USD/ZAR only above 15.74, stop loss 15.37 and target 16.13 levels.