• 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
