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FxWirePro: USD/ZAR runs out of steam but maintains bullish outlook

• 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

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