• USD/ZAR consolidated arund 17.645 on Tuesday as traders assessed the implications of the previous day's talks at the White House on the war in Ukraine, and looked ahead to a key meeting of central bankers.
• On Monday, U.S. President Donald Trump assured Ukrainian President Volodymyr Zelenskiy that the U.S. would help guarantee Ukraine’s security in any deal to end the war with Russia, though details of the support remain unclear.
• On Tuesday, Trump expressed hope that Russia’s Vladimir Putin would take steps to end the war in Ukraine, but acknowledged that the Kremlin leader might not agree to a deal.
• Another key market event this week is the Federal Reserve’s Jackson Hole symposium (Aug 21–23), where Chair Jerome Powell will discuss the economic outlook and the central bank’s policy framework.
• The rand, like other risk-sensitive currencies, often takes cues from global drivers such as U.S. policy , Geopolitical events and economic data.
• At GMT 16:36,the dollar was up 0.27% at 17.646 against South African rand.
• Immediate resistance is located at 17.740(SMA 20), any close above will push the pair towards 17820(38.2%fib).
• Strong support is seen at 17.460(23.6%fib) and break below could take the pair towards 17.290(Lower BB)
Recommendation: Good to buy around 17.600 with stop loss of 17.500 and target price of 18.000
