• USD/ZAR slipped lower on Thursday as South African rand firmed , supported by a weaker dollar and firmer commodities prices
• Oil prices headed for a fourth day of gains as U.S. strikes on Iran and renewed Israeli threats against Tehran revived concerns about disruptions to Middle East supplies..
• Spot silver gained 2.8% to $67.14, platinum rose 3.8% to $1,826.58, and palladium climbed 5.9% to $1,424.75.
•Investors now await the non-farm payrolls report due on Friday after the ADP employment report on Wednesday showed U.S. private payrolls increased moderately in August.
Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. economic indicators, in addition to domestic economic data.
• Immediate resistance is located at 16.101(SMA20), any close above will push the pair towards 16.212(38.2%fib).
• Strong support is seen at 15.929(Lower BB) and break below could take the pair towards 15.855(23.6%fib).
Recommendation: Good to sell around 16.100 with stop loss of 16.200 and target price of 15.900
