• The USD/ZAR slipped lower on Thursday as broad weakness in the U.S. dollar boosted risk sensitive rand
• The dollar weakness extended against major currencies on Friday after downbeat US economic data.
•US PPI for final demand fell 0.5% in April after a revised flat reading in March, according to the Labor Department.
• In a separate report, US retail sales rose 0.1% in April, following a revised 1.7% gain in March, beating expectations for no change.
• Labor Department data showed weekly jobless claims remained at 229K, as expected, while job openings continued to shrink.
• Immediate resistance is located at 18.374(38.2%fib), any close above will push the pair towards 18.472(May 13th high).
• Strong support is seen at 17.995(23.6%fib) and break below could take the pair towards 17.887(Lower BB)
Recommendation: Good to sell around 18.100 with stop loss of 18.400 and target price of 17.800
