FxWirePro: USD/ZAR firms modestly as markets await U.S. payrolls data

• The USD/ZAR edged  higher on Friday as dollar recovered some ground ahead of Friday's jobs data that could dictate the next move for the currency

•  The payrolls data comes ahead of the Fed's policy meeting later this month where traders expect the U.S. central bank to keep interest rates unchanged.

• A string of weak U.S. data has raised fears of a soft payrolls report, fueling stagflation concerns and increasing pressure on the Fed to cut rates.

• Unpredictable U.S. trade policy has pressured the dollar, prompting global investors to shift funds into emerging markets in search of diversification and higher returns..

 •At GMT 11:43, the pair was trading up  0.28 percent  at 17.756

• Immediate resistance is located at 18.000(Psychological level), any close above will push the pair towards 18.083(38.2%fib).

• Strong support is seen at 17.649(23.6%fib) and break below could take the pair towards 17.530(Lower BB)

Recommendation: Good to sell  around 17.850 with stop loss of 18.200 and target price of 17.500