• The USD/ZAR eased on Wednesday as markets digested Jerome Powell's comments on interest rate cuts and awaited the U.S. inflation data later in the day.
• Powell stated on Tuesday that the Fed isn't rushing to cut interest rates and would only consider a reduction if inflation slows or the job market weakens.
• Trump's trade advisers were finalizing reciprocal tariffs, escalating fears of a global trade war as the U.S. president vowed to impose duties on countries taxing U.S. imports.
• The rand, like other risk-sensitive currencies, often follows global factors like Geo politics, U.S. monetary policy when there are no significant local drivers.
•At GMT 10:13, the pair was trading down 0.34 percent at 18.427
• Immediate resistance is located at 18.533 (Daily high), any close above will push the pair towards 18.660(50fib).
• Strong support is seen at 18.399 (61.8%fib) and break below could take the pair towards 18.322(Lower BB)
Recommendation: Good to buy around 18.400 with stop loss of 18.250 and target price of 18.700