FxWirePro: USD/ZAR recovers slightly from early decline but bears are not done yet

•   USD/ZAR edged higher as markets reacted cautiously to comments from Trump that South Africa would not be invited to the G20 summit in 2026.

•   Trump confirmed on Wednesday that South Africa will be left out of next year’s G20 summit in Florida after the U.S. boycotted last week’s Johannesburg gathering, a decision Pretoria has described as punitive.

• On the data front, South Africa's producer inflation was at 2.9% year on year in October, up from 2.3% in September, statistics agency data showed on Thursday.

The Producer Price Index decreased 0.1% month on month in October, Statistics South Africa said.

• Looking ahead, Investor attention will shift to credit  , trade  and budget   data on Friday.

• Immediate resistance is located at 17.194  (50%fib), any close above will push the pair towards 17.221(SMA 20)

• Strong support is seen at 17.082 (38.2%fib) and break below could take the pair towards 16.938(23.6%fib)

Recommendation: Good to sell around 17.200 with stop loss of 17.300 and target price of 16.950