• USD/ZAR initially gained but gave up ground as investors adopted a cautious stance amid the ongoing Middle East conflict and awaited key U.S. inflation data due later this week for fresh signals on the Federal Reserve’s interest-rate outlook.
• Investors are turning their attention to Wednesday’s U.S. Consumer Price Index (CPI) report, one of the final major economic releases ahead of the Federal Reserve’s late-October policy meeting..
• Following last month’s first rate increase since 2023, the Federal Reserve’s next steps remain in focus as investors assess incoming data for signals of additional monetary tightening..
• Traders are pricing in an 81% chance of the Fed standing pat this month, up from 51% a month earlier, the CME FedWatch tool showed
• In the absence of significant local economic data, the rand remains sensitive to international market developments, including U.S. data releases and geopolitical tensions.
• Immediate resistance is located at 16.560 (50%fib), any close above will push the pair towards 16.750 (38.2%fib).
• Strong support is seen at 16.428 (SMA20) and break below could take the pair towards 16.354(38.2%fib)
Recommendation: Good to buy around 16.500 with stop loss of 16.300 and target price of 16.700


FxWirePro- Major Pair levels and bias summary
AUD/JPY Stays Above 110 as Weak Yen Fuels a Potential Move Toward 112
FxWirePro: USD/CAD climbs to 18-month peak after sharp Canadian employment decline
FxWirePro: GBP/AUD steadies above 1.9000, retains bid tone
JPY Currency Score: USD/JPY Bullish as EUR/JPY Turns Bearish
FxWirePro: USD/JPY edges higher, remains on bullish path
FxWirePro: USD/ CNY hovered near 3-1/2-year low ,vulnerable to more downside
FxWirePro: EUR/NZD uptrend looks tired, but continues to hold
FxWirePro: GBP/NZD uptrend loses momentum but bullish setup remains
NZD/JPY Consolidates Below 90: Bearish Bias Holds as Traders Wait for a Clear Breakout
Currency Score Update: EURUSD & GBPUSD Bearish, USDCAD Strongest
FxWirePro: GBP/NZD positions for another climb, eyes 2.3700 level
JPY Major Currency Score: USD/JPY Bullish, Other Pairs Neutral
FxWirePro: AUD/USD grinds higher, but topside extension unlikely
FxWirePro: AUD/ USD edges higher, but outlook is strongly bearish
NZD/JPY Double Bottom Signals a Potential Push Toward 90 as 88 Support Holds
FxWirePro: GBP/AUD eases slightly but trend is still bullish 



