FxWirePro: USD/ZAR getting back on track for a run toward 19.000 level

• The USD/ZAR edged higher on Thursday as dollar recovered slightly as markets awaited information on U.S. tariffs  

• Recent tariff-driven market volatility has dented investor confidence in U.S. economic stability, pressuring the dollar as investors shift funds away from U.S. assets.

• Markets were also digesting Federal Reserve Chair Jerome Powell's warnings that tariffs could lead to slower growth and higher inflation.

•   Meanwhile, investors are keeping a close watch on the growing budget dispute between South Africa’s ANC and DA, sparked by a proposed VAT increase scheduled for May 1.

• Similar to other risk-sensitive currencies, South African rand reacts not only to domestic developments but also to broader global trends, especially shifts in U.S. economic policy.

• Immediate resistance is located at 19.051(50%fib), any close above will push the pair towards 19.3738(38.2%fib).

• Strong support is seen at 18.719(61.8%fib) and break below could take the pair towards 18.419(April 2nd low)

Recommendation: Good to buy around 18.800 with stop loss of 18.400 and target price of 19.000