• USD/ZAR strengthened on Monday as greenback held firm against South African rand .
• The dollar has risen for three months, driven by expectations that President-elect Trump's policies will boost growth, inflation, and keep U.S. yields high..
• The rand has fallen nearly 1% against the US dollar in 2024, remaining volatile due to geopolitics, global sentiment, and the May national election.
• At GMT 10:51 the pair was trading up 0.55 percent at 18.739.
• Immediate resistance is located at 18.893 (23.6%fib), any close above will push the pair towards 19.048(Higher BB).
• Strong support is seen at 18.597(38.2%fib) and break below could take the pair towards 18.352(50%fib).
Recommendation: Good to buy around 18.720 with stop loss of 18.600 and target price of 18.900.
