• USD/ZAR firmed on Monday as South African rand weakened as investors kept close an eye on ongoing talks to reduce U.S. tariffs on South African goods.
• U.S. imports from South Africa face a 30% tariff, the highest in sub-Saharan Africa. Last week, President Cyril Ramaphosa spoke with U.S. President Donald Trump, and their trade teams plan to hold detailed negotiations.
•On the data front, Statistics South Africa will publish June manufacturing output at 1100 GMT on Monday.
• This week's releases also include mining output and unemployment figures on Tuesday and retail sales data on Wednesday.
• At GMT 14:02,the dollar was up 0.26 % at 17.755 against South African rand.
• Immediate resistance is located at 17.792(SMA 20), any close above will push the pair towards 17.946(38.2%fib).
• Strong support is seen at 17.495(23.6%fib) and break below could take the pair towards 17.374(Lower BB)
Recommendation: Good to buy around 17.740 with stop loss of 17.600 and target price of 18.000
