• USD/ZAR dipped on Monday as South African rand firmed despite weak manufacturing purchasing managers' index (PMI) survey.
• A monthly gauge of South African manufacturing sentiment saw its sharpest drop of the year in November, a purchasing managers' index (PMI) survey showed on Monday.
•The seasonally-adjusted PMI sponsored by South African bank Absa fell to 42.0 in November from 49.2 in October.
•Meanwhile, investors will later turn their focus to vehicle sales data, due around 1200 GMT, for a snapshot of consumer demand for big-ticket items.
• At GMT 09:20,the dollar was down 0.42% at 16.970 against South African rand .
• Immediate resistance is located at 17.204 (38.2%fib), any close above will push the pair towards 17.323(Nov 23rd high).
• Strong support is seen at 17.064(23.6%fib) and break below could take the pair towards 16.953(23.6%fib)
Recommendation: Good to sell around 17.100 with stop loss of 17.200 and target price of 16.800
