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FxWirePro: USD/ZAR retreats slightly but trend is still bullish

• USD/ZAR  initially gained but gave up some ground  as markets fretted over U.S. President Donald Trump's tariffs due next week.

• Trump on Wednesday announced 25% tariffs on all imported vehicles and foreign-made auto parts, set to take effect after midnight on April 3..

• The tariffs mark the latest escalation in the global trade war, raising investor concerns about slower growth and rising inflation in the world’s largest economy.

• Like other risk-sensitive currencies, the rand is influenced by global factors such as U.S. economic policy, alongside domestic conditions.

• Immediate resistance is located at 18.424  (50%fib), any close above will push the pair towards 18.541(Higher BB).

• Strong support is seen at 18.69 (61.8%fib) and break below could take the pair towards 17.956(Lower BB).

Recommendation: Good to buy around 18.200 with stop loss of 18.000 and target price of 18.400

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