• USD/ZAR dipped on Monday as greenback continued weaken as disappointing U.S. jobs figures reinforced bets on a Fed rate cut..
• Markets awaited the release of local GDP figures, as well as mining, manufacturing, and current account data, for insights into the health of Africa’s largest economy..
• Statistics South Africa is set to release second-quarter GDP data at 0930 GMT on Tuesday.
• Investor attention will turn also turn to Thursday’s releases of mining, manufacturing, and current account data.
• Immediate resistance is located at 17.669 (50%fib), any close above will push the pair towards 17.838(SMA 20).
• Strong support is seen at 17.394 (38.2%fib) and break below could take the pair towards 17.069 (23.6%fib).
Recommendation: Good to sell around 17.550 with stop loss of 17.900 and target price of 17.250
