• USD/ZAR initially gained but gave up ground on Tuesday as investors awaited this week Federal Reserve policy decision .
•Traders anticipating at least a quarter-point hike. Fed Chair Kevin Warsh has been reluctant to provide guidance on the future path of rates.
• Markets now see a Fed hike on Wednesday as a near certainty, with CME's FedWatch tool pricing in a more than 92% chance of an interest-rate increase.
• Oil prices rose nearly 2% on Tuesday as concerns over supply disruptions lingered after attacks on Saudi Arabian energy infrastructure left the kingdom's East-West pipeline offline.
•Gold , South Africa's key export, was down 0.2% at $4,287.69 per ounce on Tuesday, after hitting its lowest point since August 7 on Monday.
• Immediate resistance is located at 16.358(Higher BB), any close above will push the pair towards 16.510(50%fib).
• Strong support is seen at 16.1985(38.2%fib) and break below could take the pair towards 16.077(SMA 20)
Recommendation: Good to buy 16.200 with stop loss of 16.000 and target price of 16.400
