• USD/ZAR steadied on Wednesday after data showed US consumer prices rose moderately in August.
• The Consumer Price Index increased by 0.2% last month, following a similar rise in July, according to the Labor Department's Bureau of Labor Statistics.
•Financial markets increased the likelihood of a quarter-point rate cut next Wednesday based on the inflation data, while significantly reducing the chances of a 50 basis point reduction
• Immediate resistance is located at 17.983 (38.2%fib), any close above will push the pair towards 18.059 (Aug 22nd high).
• Strong support is seen at 17.884 (50%fib) and break below could take the pair towards 17.778 (61.8%fib).
Recommendation: Good to buy around 17.920 with stop loss of 17.880 and target price of 18.030
