• USD/ZAR strengthened on Tuesday as the South African rand weakened as investors awaited the finance minister's announcement on the timing of a revised national budget.
• Finance Minister Enoch Godongwana is now revising fiscal plans after shelving a controversial VAT hike that faced strong political backlash.
• Godongwana initially proposed a 2% VAT hike in his February budget, which was delayed last minute due to coalition disagreements.
• The 2025 budget dispute has become the biggest challenge for the Government of National Unity, formed after the ANC lost its parliamentary majority in last year's election..
• No major South African economic data is expected on Tuesday, but March credit extension, budget, and trade figures are due on Wednesday.
• Immediate resistance is located at 18.804 (38. 2%fib), any close above will push the pair towards 18.928( April 25th high).
• Strong support is seen at 18. 453 (61.8%fib) and break below could take the pair towards 18.253 (Lower BB)
Recommendation: Be on sideliness


FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
CADJPY Pulls Back on Weak Canadian Retail Data: Dips to 113 Prime Buying Opportunity Targeting 116
FxWirePro: USD/ZAR edges higher but bearish outlook persists
FxWirePro- Major Crypto levels and bias summary
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro- Major Crypto levels and bias summary
USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major European Indices
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption 



