• USD/ZAR rose to nine month high on Monday as greenback continued to benefit from Friday's strong US jobs data.
• Friday's data showed robust U.S. job growth in December and a drop in unemployment, highlighting economic strength and prompting traders to reduce expectations of Fed rate cuts in 2025.
• On the data front,U.S. consumer price index (CPI), producer price index (PPI), weekly jobless claims and retail sales are the major data due for release this week.
• At GMT 10:02 the pair was trading down 0.51 percent at 19.193.
• Immediate resistance is located at 19.244(23.6%fib), any close above will push the pair towards 19.303Higher BB).
• Strong support is seen at 19.080(Daily low) and break below could take the pair towards 18.923 (38.2%fib).
Recommendation: Good to buy around 19.180 with stop loss of 19.000 and target price of 19.400
