• USD/ZAR edged higher on Thursday as South African rand softened as investors digested domestic economic data and awaited further catalyst .
• South Africa's statistics agency published mining data which showed that December mining output rose 2.5% year-on-year compared with a revised decrease of 2.4% in November.
•The agency also published manufacturing figures which showed that manufacturing output fell 1.4% year-on-year in December, after falling by a revised 2.0% year-on-year in November.
• Looking ahead,U.S. inflation data is due on Friday and will be the next test of market views on interest rate cuts.
•At GMT 17:52, the pair was trading up 0.57 percent at 15.994
• Immediate resistance is located at 16.053 (SMA20), any close above will push the pair towards 16.128(38.2%fib).
• Strong support is seen at 15.682(23.6%fib) and break below could take the pair towards 15.562(Lower BB)
Recommendation: Good to sell around 16.000 with stop loss of 16.300 and target price of 15.700
