FxWirePro: USD/ZAR uptrend loses momentum but bullish setup remains

• The USD/ZAR declined on Friday   as   South Africa's rand firmed   ahead of a domestic inflation reading next week which could provide clues on the central bank's rate-cutting path.

• Next week, investors will look to South African September's consumer inflation figures which could provide clues on the South African Reserve Bank's interest rate path.

•The central bank cut its main lending rate for the first time in more than four years in September, after data showed headline inflation fell just below 4.5%, the middle of the central bank's target range.

 •At GMT 18:04, the pair was trading down 0.29 percent  at 17.612,retreating from daily high17.676

• Immediate resistance is located at 17.688(23.6%fib), any close above will push the pair towards 17.874(Higher BB).

• Strong support is seen at 17.558 (38.2%fib) and break below could take the pair towards 17.461(61.8%fib)

Recommendation: Good to buy  around 17.610 with stop loss of 17.400 and target price of 17.700