FxWirePro: USD/ZAR hits one-month low, scope for further downside

• The USD/ZAR dropped to a one-month low on Friday as the dollar weakened after Trump hinted at a softer stance on China tariffs and lower U.S. interest rates.

• Trump's latest comments on China tariffs and inflation kept the dollar on track for its worst weekly fall in over a year.

•The greenback extended losses, dropping to a one-month low of 107.46 against a basket of currencies, and was on track to lose over 1.7% for the week.

• Next week,  investors will focus on the South African Reserve Bank (SARB) as it announces its first interest rate decision for 2025 on January 30.

 •At GMT 10:43, the pair was trading down 0.99 percent  at 18.323

• Immediate resistance is located at 18.450  (50%fib), any close above will push the pair towards 18.618(23rd Jan).

• Strong support is seen at 18.300 (Lower BB) and break below could take the pair towards 18.133(61.8%fib)

Recommendation: Good to sell around 18.400 with stop loss of 18.650 and target price of 18.200