FxWirePro: USD/ZAR rebounds but bears are not done yet

• USD/ZAR recovered some ground on Friday as investors accessed impact of Trump’s impending tax-cut and spending bill and rising pressure on countries to finalize trade deals before the U.S. July 9 deadline.

•  The Republican‑led U.S. House of Representatives narrowly approved President Trump’s sweeping “One, Big, Beautiful Bill,” which combines extensive spending measures with his proposed tax cuts..

•  South Africa, like many nations, is racing to finalize trade agreements with the United States ahead of Trump’s July 9 deadline..

•Meanwhile, Domestically focused investors  will look to June foreign reserves   data on Monday and manufacturing production  figures on Thursday for insight into the health of South Africa’s economy.

• Immediate resistance is located at 17.673(61.8%fib), any close above will push the pair towards 17.0763(SMA 20).

• Strong support is seen at 17.544(38.2%fib) and break below could take the pair towards 17.405(23.6%fib)

Recommendation: Good to sell  around 17.650 with stop loss of 18.000 and target price of 17.500