• USD/ZAR rose on Wednesday as South Africa's rand weakened ahead of U.S. inflation readings which could give clues on the future US interest rate path.
• Markets will closely examine the November consumer inflation data from the world's largest economy on Wednesday, as it could either undermine or reinforce predictions of a rate cut by the Federal Reserve next week.
• Domestically, South Africa's annual consumer inflation edged up to 2.9% in November, compared to 2.8% in October.
• At GMT 11:24, the pair was trading up 0.28 percent at 17.849.
• Immediate resistance is located at 17.902 (38.2%fib), any close above will push the pair towards 18.000(Psychological level).
• Strong support is seen at 17.550(61.8%fib) and break below could take the pair towards 17.678(Lower BB).
Recommendation: Good to sell around 17.830 with stop loss of 18.700 and target price of 17.890
