• USD/ZAR strengthened on Wednesday as rand weakened ahead of upcoming economic data releases by South Africa later in the week.
•Investors are awaiting Thursday's July producer inflation data and Friday's reports on money supply, trade, and budget balance for the latest insights into the health of the domestic economy.
•This week, global market attention will be on the preliminary estimate for U.S. GDP and the core personal consumption expenditures (PCE) index.
• Immediate resistance is located at 17.866 (38.2%fib), any close above will push the pair towards 18.011 (23rd Aug high).
• Strong support is seen at 17.625 (23.6%fib) and break below could take the pair towards 17.55 (Lower BB).
Recommendation: Good to buy around 17.700 with stop loss of 17.500 and target price of 18.000
