• The USD/ZAR weakened on Monday as dollar dipped ahead of U.S. ADP employment report due on Wednesday and non-farm payrolls report on Thursday.
• Non-farm payrolls report will be released a day early, with U.S. markets closing early Thursday and shut on Friday for the July 4 Independence Day holiday.
• Atlanta Fed President Raphael Bostic said Monday the U.S. economy has yet to feel the full impact of Trump’s trade tariffs.
• Investors also tracked progress on a major U.S. tax-cut and spending bill, with Republicans aiming to pass it in the Senate on Monday.
• South Africa posted a trade surplus of 21.67 billion rand ($1.22 billion) in May, falling short of analysts' expectations, according to revenue service data released Monday.
•Separate data showed, South African money supply growth last month was at 6.86%, up from 6.12% in April. Credit growth for May came in at 4.98%, from 4.60% the previous month.
• Immediate resistance is located at 17.822(Daily high), any close above will push the pair towards 17.898(38.2%fib).
• Strong support is seen at 17.655(23.6%fib) and break below could take the pair towards 17.543(Lower BB)
Recommendation: Good to sell around 17.750 with stop loss of 18.000 and target price of 17.550
