• USD/ZAR traded in narrow range on Tuesday as traders awaited release of South Africa’s unemployment and manufacturing data later in the day.
• The rand rebounded on Monday, rising around 1% after the U.S. Senate approved a deal to restore federal funding and end the record-long government shutdown.
• South African investors are awaiting third-quarter 2025 unemployment data, set for release at 0930 GMT, to gauge labour market conditions in the continent’s most industrialized nation.
• Manufacturing output data due at 1100 GMT is expected to show a 0.3% contraction for September, according to analyst estimates..
• At GMT 07:46,the dollar was up 0.01% at 17.141 against South African rand .
• Immediate resistance is located at 17.286 (38.2%fib), any close above will push the pair towards 17.442(50%fib).
• Strong support is seen at 17.092 (23.6%fib) and break below could take the pair towards 17.067 (Lower BB)
Recommendation: Good to sell around 17.200 with stop loss of 17.300 and target price of 17.000
