• USD/ZAR rose on Tuesday as greenback continued to firm as investors assessed the outlook for further U.S. rate cuts.
• The U.S. data calendar is relatively light this week, but investors will seek trading signals from Wednesday's release of the minutes from the Federal Reserve's September meeting.
• Markets are ascribing around a 90% chance of a 25-basis-point reduction in November, the CME FedWatch tool showed.
•Risk-sensitive currencies like the rand often takes cues from global drivers such as U.S. monetary policy.
• Immediate resistance is located at 17.583 (50%fib), any close above will push the pair towards 17.714(23.6%fib).
• Strong support is seen at 17.470(38.2%fib) and break below could take the pair towards 17.368 (50%fib).
Recommendation: Good to buy around 17.540 with stop loss of 17.450 and target price of 17.680


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