FxWirePro: USD/ZAR remains weak, eyes 38.2% fib support

• The USD/ZAR edged lower on Monday as dollar dipped ahead of pivotal U.S.-China trade talks

•  Top Trump aides are set to meet Chinese officials in London today to discuss the ongoing trade dispute, keeping global markets on alert..

• Domestic investors this week will focus on manufacturing  and mining   data to assess the health of South Africa's industrial sector.

• Like other risk-sensitive currencies, the South African rand is influenced by global factors such as U.S. monetary policy and economic indicators, alongside domestic developments.

 •At GMT 08:06, the pair was trading down  0.29 percent  at 17.713

• Immediate resistance is located at 18.000(Psychological level), any close above will push the pair towards 18.083(38.2%fib).

• Strong support is seen at 17.649(23.6%fib) and break below could take the pair towards 17.530(Lower BB)

Recommendation: Good to sell  around 17.850 with stop loss of 18.200 and target price of 17.500