• USD/ZAR eased on Friday as South African rand gained after central bank data showed that the country's foreign reserves increased last month.
• South Africa’s net foreign reserves rose to $65.899 billion at the end of August, up from $65.143 billion in July.
• Gross reserves rose to $70.416 billion in August from $69.161 billion in July, while the forward position remained steady at $0.535 billion.
• Looking ahead , market will be looking to the monthly U.S. jobs report due later in the session to confirm their expectations.
• Immediate resistance is located at 17.829(38.2%fib), any close above will push the pair towards 17.860(Higher BB).
• Strong support is seen at 17.627(SMA 20)and break below could take the pair towards 17.404(23.6%fib).
Recommendation: Good to buy around 17.600 with stop loss of 17.400 and target price of 18.000
