• The USD/ZAR eased on Wednesday as rand staged a slight recovery amid a broad-based dollar decline.
• Strong demand for U.S. bonds, expectations of lower interest rates, and economic growth concerns have outweighed typical safe-haven dollar buying amid trade war fears and Ukraine tensions.
• Looking ahead, investors await key U.S. data, including ADP employment change and ISM services PMI on Wednesday, jobless claims on Thursday, and February's jobs report on Friday.
•At GMT 12:25, the pair was trading down 0.09 percent at 18.411
• Immediate resistance is located at 18.611 (38.2%fib), any close above will push the pair towards 18.733(Feb 23rd high).
• Strong support is seen at 18.351 (50%fib) and break below could take the pair towards 18.212(Lower BB)
Recommendation: Good to sell around 18.420 with stop loss of 18.650 and target price of 18.200
