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FxWirePro: USD/ZAR little changed ahead South Africa's CPI and SARB meeting

• USD/ZAR traded flat on Monday as  investors  awaited   South Africa's consumer price index (CPI) data and a central bank meeting later this week.

•  South Africa's Bureau for Economic Research will release its third-quarter inflation expectations survey around 0800 GMT on Wednesday .

• South Africa’s central bank will deliver its policy decision on Thursday, after consumer inflation and retail sales figures due Wednesday provide fresh insight into the economy.

• The data is expected to provide critical signals on price trends and household demand, shaping market expectations for the Reserve Bank’s stance.

 •At GMT 15:16, the pair was trading down  0.02 percent  at 17.367

• Immediate resistance is located at 17.439(38.2%fib), any close above will push the pair towards 17.554(50%fib).

• Strong support is seen at 17.380(23.6%fib) and break below could take the pair towards 17.270(Lower BB)

Recommendation: Good to sell  around 17.400 with stop loss of 17.600 and target price of 17.100

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