FxWirePro: USD/ZAR climbs as Trump’s tariffs escalate trade war fears

• 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