• The USD/ZAR retreated slightly on Wednesday as dollar dipped ahead key economic indiacators later in the day.
• Investors are now focused on the upcoming core PCE figures, initial jobless claims, and the first revision of GDP, all set to be released later in the day.
• Investor attention in South Africa will turn to monthly producer inflation data on Thursday, followed by reports on money supply, trade, and the budget balance on Friday.
•At GMT 11:59, the pair was trading last down 0.13 percent at 18.134
• Immediate resistance is located at 18.223 (Nov 26t high), any close above will push the pair towards 18.341 (23.6%fib).
• Strong support is seen at 18.096(38.2%fib) and break below could take the pair towards 18.000(Psychological level)
Recommendation: Good to buy around 18.110 with stop loss of 17.900 and target price of 18.290
