• USD/ZAR rose sharply on Wednesday as as solid US data pushed up US dollar and US bond yields.
• Data on Tuesday showed U.S. job openings rose unexpectedly in November with low layoffs, while a separate survey revealed accelerating services sector activity in December and a two-year high in input prices, signaling potential inflation..
• U.S. private payrolls data, due later, will be closely watched for insights into the future path of interest rates..
• At GMT 11:49 the pair was trading up 0.96 percent at 18.894.
• Immediate resistance is located at 18.923 (23.6%fib), any close above will push the pair towards 19.149(Higher BB).
• Strong support is seen at 18.636(38.2%fib) and break below could take the pair towards 18.417(50%fib).
Recommendation: Good to buy around 18.750 with stop loss of 18.600 and target price of 19.100.
