• USD/ZAR strengthened on Monday as South Africa's rand weakened in a thin trading session ahead of the year-end.
• The rand experienced significant volatility last week following the U.S. Federal Reserve's announcement on Wednesday, where it adopted a hawkish outlook on interest rates for the year ahead.
• In a holiday-curtailed week, trading volumes are likely to thin out as the year-end approaches..
• At GMT 12:06 the pair was trading up 0.81 percent at 18.425.
• Immediate resistance is located at 18.429 (23.6%fib), any close above will push the pair towards 18.555(Higher BB).
• Strong support is seen at 18.229(38.2%fib) and break below could take the pair towards 18.102 (PNov 15th low).
Recommendation: Good to buy around 18.400 with stop loss of 17.230 and target price of 18.600
