• USD/ZAR rose on Tuesday as a stronger dollar outweighed support from U.S. rate cut expectations.
• Focus remains on tariff uncertainties after Trump’s new import duties last week raised concerns about global economic health..
• Markets are pricing in two rate cuts by year-end, starting in September, following weaker-than-expected June hiring data.
• Odds of a September rate cut have jumped to 94% from 63% on July 28, per CME FedWatch, with markets expecting at least two quarter-point cuts this year.
• On the data front,South Africa's private sector grew slightly in July for a third straight month, driven by rising sales and steady job gains, a survey showed Tuesday.
• Immediate resistance is located at 18.054(Aug 5th high), any close above will push the pair towards 18.254(61.8%fib).
• Strong support is seen at 17.878 (50%fib) and break below could take the pair towards 17.487(38.2%fib)
Recommendation: Good to buy around 17.750 with stop loss of 17.300 and target price of 18.300
