FxWirePro: USD/ZAR consolidating around 18.750, room for further gains
• USD/ZAR strengthened against dollar on Monday as markets awaited U.S. President-elect Donald Trump's inauguration.
• Global markets will focus on Trump's policy announcements on Monday at the start of his second term for clarity on his administration's fiscal stance.
• On the data front,investors will also focus on South Africa's November mining data on Tuesday, December inflation figures on Wednesday, and November retail sales on Thursday.
• At GMT 10:10 the pair was trading up 0.43 percent at 18.551.
• Immediate resistance is located at 18.962(38.2%fib), any close above will push the pair towards 19.000(Psychological level).
• Strong support is seen at 18.702(38.2%fib) and break below could take the pair towards 18.603 (Dec 30th low).
Recommendation: Good to buy around 18.800 with stop loss of 18.500 and target price of 19.100
