• USD/ZAR edged higher on Friday as investors digested the South African Reserve Bank's decision to keep interest rates unchanged.
• South Africa’s central bank kept its key lending rate unchanged at 7% on Thursday, in a close decision, as policymakers paused to gauge the effects of earlier rate cuts before considering further easing.
• Investors are also watching for tariff developments after South African Trade Minister Parks Tau held talks with U.S. Trade Representative Jamieson Greer.
• U.S. President Donald Trump last month imposed a 30% tariff on imports from the country the highest in Sub-Saharan Africa a move that could result in tens of thousands of job losses.
• Next week’s economic calendar features business cycle leading indicator data on Tuesday and producer inflation figures on Thursday.
• Immediate resistance is located at 17.445(38.2%fib), any close above will push the pair towards 17.517(SMA 20).
• Strong support is seen at 17.250(23.6%fib) and break below could take the pair towards 17.167(Lower BB)
Recommendation: Good to sell around 17.430 with stop loss of 17.500 and target price of 17.150
