• USD/ZAR firmed on Friday as South African rand softened as investors booked profits from a commodity rally spurred by geopolitical tensions.
• Most commodities stayed flat on Friday as traders took profits after a rally driven by safe-haven demand.
• On Wednesday, gold surged above $4,000 per ounce, its first time at that level, but retreated following a ceasefire deal between Israel and Hamas.
• Investors focused on domestic markets will watch upcoming business confidence, mining production, and retail sales figures for clues on economic health.
• At GMT 09:26,the dollar was up 0.10% at 17.257 against South African Rand .
• Immediate resistance is located at 17.266 (SMA 20), any close above will push the pair towards 17.323(38.2%fib).
• Strong support is seen at 17.081 (23.6%fib) and break below could take the pair towards 17.055(Lower BB)
Recommendation: Good to sell around 17.300 with stop loss of 17.500 and target price of 17.000
