• The USD/ZAR edged higher on Friday as dollar recovered some ground ahead of Friday's jobs data that could dictate the next move for the currency
• The payrolls data comes ahead of the Fed's policy meeting later this month where traders expect the U.S. central bank to keep interest rates unchanged.
• A string of weak U.S. data has raised fears of a soft payrolls report, fueling stagflation concerns and increasing pressure on the Fed to cut rates.
• Unpredictable U.S. trade policy has pressured the dollar, prompting global investors to shift funds into emerging markets in search of diversification and higher returns..
•At GMT 11:43, the pair was trading up 0.28 percent at 17.756
• Immediate resistance is located at 18.000(Psychological level), any close above will push the pair towards 18.083(38.2%fib).
• Strong support is seen at 17.649(23.6%fib) and break below could take the pair towards 17.530(Lower BB)
Recommendation: Good to sell around 17.850 with stop loss of 18.200 and target price of 17.500
