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

• The USD/ZAR edged higher on Tuesday   as investors awaited local central bank data expected to offer insight into the country's economic outlook.

• The South African Reserve Bank is set to release its November composite leading business cycle indicator, which tracks key economic signals such as vehicle sales, business confidence, and money supply in the continent’s most industrialised economy.

•Attention will turn to South Africa’s first rate decision of 2026 on Thursday, with most analysts expecting the central bank to hold rates steady, according to a Reuters poll.

•Other domestic releases this week include producer inflation numbers on Thursday, while money supply  , private sector credit, trade balance and budget balance figures are all due on Friday.

• Immediate resistance is located at 16.223(38.2%fib), any close above will push the pair towards 16.227(50%fib).

• Strong support is seen at 15.994 (23.6%fib) and break below could take the pair towards 15.878(Lower BB)

Recommendation: Good to sell around 16.100 with stop loss of 16.300 and target price of 15.800