FxWirePro: USD/ZAR reclaims higher ground, bulls eye 16.200 level

• USD/ZAR strengthened  on Tuesday as stronger dollar outweighing a modest improvement in domestic jobs data.

•The U.S. dollar strengthened against major currencies , driven by heightened geopolitical uncertainty around ongoing U.S.–Iran nuclear talks, which fostered a risk‑off mood among investors and boosted demand for the safe‑haven greenback

•Investors are also awaiting minutes from the Fed’s last meeting and key economic data later in the week.

• South Africa's unemployment rate fell modestly to 31.4% in the fourth quarter from 31.9%, reaching its lowest in more than five years as jobs were added in social services, construction and finance, though it was still among the highest worldwide.

• Immediate resistance is located at 15.987  (38.2%fib), any close above will push the pair towards 16.269(Higher BB).

• Strong support is seen at 15.8111(Feb 16th low) and break below could take the pair towards 15.736(Lower BB)

Recommendation: Good to buy around 16.000 with stop loss of 15.750 and target price of 16.200