• USD/ZAR dipped on Friday as rand received some support from a rebound in precious metal prices including gold and platinum, South Africa's major exports..
• Gold rebounded on Friday, and was set for a weekly gain, supported by bargain-hunting and a slightly softer U.S. dollar.
• Meanwhile, Spot silver surged 6.3 percent to $75.70 an ounce, recovering from an earlier dip below $65 during the session.
• Next week, domestically focused investors will turn to the country’s statistics agency for December mining and manufacturing output data, seeking insights into the health of Africa’s most industrialised economy.
• Immediate resistance is located at 16.165 (SMA 20), any close above will push the pair towards 16.344(50%fib).
• Strong support is seen at 16.004(38.2%fib) and break below could take the pair towards 15.729(Lower BB).
Recommendation: Good to sell around 16.100 with stop loss of 16.200 and target price of 15.900
