• The USD/ZAR hovers around 18.047 on Friday as market attention shifted towards U.S. payrolls data for insights into the Federal Reserve's future interest rate policy.
• The upcoming jobs data will play a crucial role in influencing market expectations surrounding the Federal Reserve's monetary policy, with the Fed scheduled to announce its policy decision on December 18.
• Similar to other risk-sensitive currencies, the rand is influenced by global factors, such as U.S. economic data, alongside domestic drivers.
• At GMT 10:08, the pair was trading up 0.24 percent at 18.047.
• Immediate resistance is located at 18.176 (Dec 5th high), any close above will push the pair towards 18.238(23.6%fib).
• Strong support is seen at 17.987(38.2%fib) and break below could take the pair towards 17.886(Lower BB).
Recommendation: Good to buy around 18.020 with stop loss of 17.900 and target price of 18.250


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