• USD/ZAR declined on Monday as South Africa's rand strengthen as investors focus shifted U.S. inflation data later this week.
• Following the release of the U.S. employment report on Friday, which had little effect on the rand, emerging markets are now focused on Wednesday’s U.S. core inflation data.
• Domestically, key data on inflation, mining and manufacturing production, and producer prices are set to be released this week.
• At GMT 14:34, the pair was trading down 1.19 percent at 17.802.
• Immediate resistance is located at 18.055 (38.2%fib), any close above will push the pair towards 18.182(Dec 5th high).
• Strong support is seen at 17.8007(61.8%fib) and break below could take the pair towards 17.613(Sep 6th low).
Recommendation: Good to sellaround 17.850 with stop loss of 18.200 and target price of 17.200
