• The USD/ZAR strengthened on Monday as US dollar rebounded strongly after U.S. President-elect Donald Trump warned BRICS members against adopting a new currency.
• In a surprising shift, Trump on Saturday demanded that BRICS countries pledge not to create or support a currency that could replace the dollar, or face 100% tariffs..
• On the data front, South Africa's PMI for November will be released at 0900 GMT, providing insights into manufacturing conditions in Africa's most industrialized economy.
•At GMT 08:43, the pair was trading last up 0.55 percent at 18.139
• Immediate resistance is located at 18.171(Daily high), any close above will push the pair towards 18.303 (23.6%fib).
• Strong support is seen at 18.051(38.2%fib) and break below could take the pair towards 17.948(SMA 21)
Recommendation: Good to buy around 18.130 with stop loss of 18.000 and target price of 18.300