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FxWirePro: USD/ZAR gains some ground but outlook still bearish

• USD/ZAR edged higher on Friday as   deteriorating global risk sentiment weighed on South African rand.

• Precious metals rebounded slightly from Thursday's heavy losses, with gold   up 1.1% to $4,973.66 an ounce, after losing over 3% on Thursday, while silver   climbed 3.2%, having plunged 10% overnight.

• Next week, local attention will turn to fourth quarter unemployment figures   on Tuesday, January inflation data  and December retail sales numbers   on Wednesday.

•At GMT 16:42, the pair was trading up 0.32 percent  at 15.970

• Immediate resistance is located at 16.221  (Jan 30th high ), any close above will push the pair towards 17.371(50%fib).

• Strong support is seen at 15.733(23.6%fib) and break below could take the pair towards 15.662(Lower BB)

Recommendation: Good to sell around 16.050 with stop loss of 16.250 and target price of 15.900

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