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ES
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
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• USD/ZAR edged higher on Tuesday as rand a softened after flurry of mixed economic data from South Africa .
• The SARB also published its quarterly bulletin, indicating that South Africa experienced foreign direct investment outflows of 73.5 billion rand ($4.25 billion) in Q2 2025, a sharp shift from inflows of 11.7 billion rand in Q1.
• Trade balance figures showed a surplus of 3.97 billion rand, falling short of analysts’ expectations of 18.25 billion rand.
• Immediate resistance is located at 17.393 (SMA 20), any close above will push the pair towards 17.595 (38.2%fib).
Recommendation: Good to sell around 17.300 with stop loss of 17.500 and target price of 17.200