FxWirePro: USD/ZAR dips below lower range, bearish bias increases

• USD/ZAR edged lower Friday as focus shifted to U.S.-China trade talks, with a U.S.-UK deal boosting hopes for broader tariff progress with other countries.

•Trump downplayed the UK deal as a model for other talks, ahead of Saturday’s meeting in Switzerland between U.S. officials Scott Bessent, Jamieson Greer, and China’s He Lifeng.

• The rand has been volatile, hitting a record low last month amid U.S. tariffs and budget disputes, but recovered on hopes South Africa's coalition government will remain stable.

• Finance Minister Enoch Godongwana will present a revised budget on May 21, after dropping the proposed VAT hike, the most controversial part of earlier drafts.

 •At GMT 10:15, the pair was trading down 0.07 percent  at 18.164

• Immediate resistance is located at 18.373(38.2%fib), any close above will push the pair towards 18.636(50%fib).

• Strong support is seen at 18.024(23.6%fib) and break below could take the pair towards 17.926(Lower BB)

Recommendation: Good to sell  around 18.200 with stop loss of 18.500 and target price of 17.900