FxWirePro: USD/ZAR slips as risk sentiment improves on easing trade tensions

• USD/ZAR declined   on Friday  as rand firmed helped by optimism about an easing of U.S.-China trade tensions and better-than-expected U.S. jobs data that boosted global risk appetite.

• The rand strengthened even as the South Africa’s PMI data signaled ongoing weakness in South Africa's manufacturing industry.

• The rand has been highly volatile in the past month, moving mainly on shifts in offshore investor sentiment linked to U.S. President Donald Trump's tariffs and local political wrangling over the budget.

•U.S. data showed nonfarm payrolls increased by 177,000 jobs last month after rising by a downwardly revised 185,000 in March.

• Immediate resistance is located at 18.567 (Daily high), any close above will push the pair towards 18.722 (38.2%fib).

• Strong support is seen at 18.357(23.6%fib) and break below could take the pair towards 18.147(Lower BB).

Recommendation: Good to buy around 18.400 with stop loss of 18.200 and target price of 18.700