FxWirePro: USD/ZAR edges higher but bearish outlook persists

•USD/ZAR edged higher on Thursday  as investors digested the annual budget that underscored the government's commitment to restoring fiscal sustainability.

• The government said in its annual budget on Wednesday that it would propose a "principles-led" fiscal anchor later this year, rather than a numerical target, as part of efforts to restore the health of public finances.  
• Domestically focused investors will turn their attention to Statistics South Africa's January domestic producer inflation   figures at 0930 GMT, with analysts polled by Reuters expecting it to come in at 2.5%.

• Other economic indicators due this week include money supply  , private sector credit, trade balance and budget balance figures on Friday.

• Immediate resistance is located at 15.996 (SMA 20), any close above will push the pair towards 16.050 (38.2%fib).

• Strong support is seen at 15.775(Lower BB) and break below could take the pair towards 15.668(Lower BB).

Recommendation: Good to sell around 15.900 with stop loss of 16.100 and target price of 15.800