FxWirePro: USD/ZAR firms as risk sentiment wobbles on Middle East tensions

• USD/ZAR strengthened on Tuesday as rand  weakened amid fragile risk sentiment stemming from the Israel-Iran conflict, with focus turning to the Fed’s upcoming policy call.

•  Attention remains on the Fed’s two-day meeting, where policymakers are expected to hold rates steady.

•  Investors will examine the Fed statement, projections, and Powell’s remarks for clues on future rate cuts.

• Domestic investors are awaiting Wednesday's consumer inflation   and retail sales  data, which could shape expectations around the South African Reserve Bank’s monetary policy stance.

• Technical signals are  strongly bearsih as RSI is   at 49, daily momentum studies  14,11 and 21 DMAs are trending down.

• Immediate resistance is located at 18.005(38.2%fib), any close above will push the pair towards 18.054(Higher BB).

• Strong support is seen at 17.701(23.6%fib) and break below could take the pair towards 17.591(Lower BB)

Recommendation: Good to sell  around 18.000 with stop loss of 18.300 and target price of 17.500