FxWirePro: USD/ZAR bearish again as upside bias reverses

• USD/ZAR slipped sharply lower on Monday as greenback weakened amid reports that the new Trump administration is considering softer tariff measures.

• The Washington Post reported that Trump's team is considering tariffs on all countries, focusing solely on sectors deemed essential for national or economic security.

•On the data front, South Africa's private sector contracted in December for the first time since August, as weak demand and rising inflationary pressures hampered growth, according to a survey released on Monday.

• At GMT 15:57 the pair was trading down 0.92  percent  at 18.508.

• Immediate resistance is located at 18.646 (38.2%fib), any close above will push the pair towards 18.783(Daily high).

• Strong support is seen at 18.441(50%fib) and break below could take the pair towards 18.236 (61.8%fib).

Recommendation: Good to sell around 18.530 with stop loss of 17.600 and target price of 18.330