FxWirePro: USD/ZAR trades in tight range as market awaits fresh catalyst

• USD/ZAR edged higher on Wednesday as investors analyzed Trump’s reciprocal tariff plans, with concerns that they could trigger an economic slowdown.

• Investors worry that Trump’s reciprocal tariffs, set to take effect on April 2, could be inflationary, potentially slowing economic growth and escalating trade tensions.

• Like other risk-sensitive currencies, the rand often tracks global factors such as U.S. policies and economic data in the absence of significant domestic drivers.

• Market participants are awaiting U.S. personal consumption expenditures data due on Friday, which could provide further insights into the potential path for U.S. rate cuts.

 At GMT 15:38, the pair was trading up 0.04 percent  at 18.251 .

• Immediate resistance is located at 18.333  (50%fib), any close above will push the pair towards 18.453 (Marchs 11th high).

• Strong support is seen at 18.077(61.8%fib) and break below could take the pair towards 17.952 (Lower BB).

Recommendation: Good to buy around 18.200 with stop loss of 18.000 and target price of 18.350