FxWirePro: USD/ZAR gains some upside momentum but still bearish

• USD/ZAR edged up on Thursday as the greenback recouped losses following a three-day slide.

• Trump’s sweeping tax bill has dominated the market’s attention, with its passage met with a mix of relief and caution.

• The bill is expected to increase the country’s growing debt, with the market now anticipating weeks of debate in the Republican-controlled Senate.

• Meanwhile, South African Finance Minister Enoch Godongwana presented the 2025 budget for the third time on Wednesday, dropping plans to increase value-added tax—the most controversial part of his earlier proposals.

At GMT 16:32, the pair was trading up  0.17 percent  at 17.986 .

• Immediate resistance is located at 18.137(May 20th high), any close above will push the pair towards 18.253(38.2%fib).

• Strong support is seen at 17.884 (23.6%fib) and break below could take the pair towards 17.704 (Lower BB).

Recommendation: Good to sell  around 18.050 with stop loss of 18.200 and target price of 17.700