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FxWirePro: USD/ZAR slides as Trump’s new tariff moves put pressure on greenback

• The USD/ZAR declined on Wednesday  as greenback weakened on   uncertainty surrounding  U.S. tariffs.

• U.S. President Donald Trump's tariffs have raised tensions with China, South Africa's largest trading partner, creating uncertainty and weakening the greenback in recent weeks..

•   On Tuesday, Trump initiated a probe into potential new tariffs on all U.S. critical mineral imports to pressure industry leader China..

• The South African rand remains highly sensitive to changes in market sentiment, which has worsened significantly due to the ongoing escalation of Trump’s global tariff war.

• Immediate resistance is located at 19.048(50%fib), any close above will push the pair towards 19.408(38.2%fib).

• Strong support is seen at 18.715(61.8%fib) and break below could take the pair towards 18.415(April 2nd low)

Recommendation: Good to buy around 18.700 with stop loss of 18.450 and target price of 19.250

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