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FxWirePro: USD/ZAR rises two week high ,good to buy on dips

• The USD/ZAR rose to hit two week high on Monday   after U.S. President Donald Trump said he would cut off funding for South Africa.

• On Sunday, Trump claimed  certain people  in South Africa were being treated badly and threatened to cut off funding until the issue is investigated.

• The 25% tariffs imposed by Trump on Canadian and Mexican imports from Tuesday, along with a 10% charge on Chinese goods, fuelled fears of a trade war that could slow global growth and feed inflation..

 •At GMT 14:56, the pair was trading up  1.20 percent  at 18.845

• Immediate resistance is located at 19.062 (23.6%fib), any close above will push the pair towards 19.164(Higher BB).

• Strong support is seen at 18.755 (38.2%fib) and break below could take the pair towards 18.466(50%fib)

Recommendation: Good to buy  around 18.800 with stop loss of 18.000 and target price of 19.100

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