• USD/ZAR rebounded strongly on Tuesday as the dollar firmed as Trump's first day back in office brought mixed signals on tariffs.
• Trump refrained from immediate tariff actions, a key concern for global markets, but indicated that tariffs on Canada and Mexico could be imposed soon.
• Like other risk-sensitive currencies, the rand is influenced by global factors such as U.S. fiscal policy, along with local influences.
• At GMT 11:11 the pair was trading up 0.75 percent at 18.652.
• Immediate resistance is located at 18.692(50%fib), any close above will push the pair towards 18.8960(38.2%fib).
• Strong support is seen at 18.488(61.8%fib) and break below could take the pair towards 18.380 (Lower BB).
Recommendation: Good to buy around 18.620 with stop loss of 18.200 and target price of 18.900
