FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption

• The USD/ZAR initially gained but gave up ground  as investors reacted to mixed signals from U.S.-China trade talks.

•U.S. President Trump said Beijing initiated the upcoming high-level trade talks but insisted on keeping tariffs on Chinese goods, sending mixed signals about easing the Sino-U.S. trade war.

• The forthcoming meeting in Geneva between U.S. and Chinese officials could serve as a key moment to clarify each country's stance on trade, potentially shedding light on the direction of future negotiations..

• On the data front ,Statistics South Africa will release March manufacturing output data   at 1100 GMT

 •At GMT 10:05, the pair was trading up 0.02 percent  at 18.237

• Immediate resistance is located at 18.396(38.2%fib), any close above will push the pair towards 18.626(50%fib).

• Strong support is seen at 18.076(23.6%fib) and break below could take the pair towards 17.977(Lower BB)

Recommendation: Good to sell  around 18.400 with stop loss of 18.700 and target price of 18.100