• The USD/ZAR rose on Wednesday as rand pressured by uncertainty tied to U.S. President Donald Trump's tariffs .
• U.S. tariffs on dozens of countries took effect on Wednesday, with China facing 104% duties. In response, China announced it will impose 84% tariffs on U.S. goods starting Thursday, up from the previously planned 34%.
• In response to President Donald Trump's reciprocal tariffs that took effect earlier, China announced it would raise tariffs on all U.S. goods to 84% from the previously planned 34%, effective April 10.
• The South African rand is highly sensitive to changes in financial market sentiment, which has deteriorated significantly due to Trump's global tariff war.
• Immediate resistance is located at 19.776 (23.6%fib), any close above will push the pair towards 19.924(Higher BB).
• Strong support is seen at 19.606 (Daily low) and break below could take the pair towards 19.462(38.2%fib)
Recommendation: Good to buy around 19.750 with stop loss of 19.500 and target price of 19.950