• USD/ZAR advanced on Tuesday as investors positioned for an expected rate cut from the Federal Reserve.
• Markets are anticipating a rate cut from the Fed, and preparing for several more central bank decisions before the weekend.
•Fed funds futures are pricing an implied 89.4% probability of a 25 basis-point cut at the Fed's two-day meeting starting on December 9, according to the CME Group's FedWatch tool.
• Domestically-focused traders will keep tabs on retail sales data on Wednesday along with mining and manufacturing production figures on Thursday..
• Immediate resistance is located at 17.113(SMA20), any close above will push the pair towards 17.218(38.2%fib).
• Strong support is seen at 16.929 (23.6%fib) and break below could take the pair towards 16.868(Lower BB)
Recommendation: Good to buy sell 17.150 with stop loss of 17.300 and target price of 16.900
