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FxWirePro: USD/ZAR gaining momentum for a move towards 17.600 level

• The USD/ZAR strengthened on Monday  as South Africa's rand  weakened amid a risk-off mood driven by an underwhelming China fiscal stimulus.

•The focus was firmly on China where the government on Saturday pledged to significantly increase debt, but left investors guessing on the overall size of the stimulus

• On the data front, investors could look to South Africa's business confidence index on Tuesday and August retail sales figures on Wednesday for signs on the health of Africa's most industrialised economy.

 •At GMT 11:13, the pair was trading down 0.95 percent  at 17.541  

• Immediate resistance is located at 17.568  (38.2%fib), any close above will push the pair towards 17.170468(23.6%fib).

• Strong support is seen at 17.459 (50%fib) and break below could take the pair towards 17.357(61.8%fib)

Recommendation: Good to sell around 17.520 with stop loss of 17.350 and target price of 17.080

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