Published: 2026-03-10T13:06:40.000Z
Chart USD/ZAR Update: Room for a minor test lower
4
Consolidation around 16.8000 has given way to further losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.9170 | 9 Mar high | S1 | 16.2850 | 4 Mar range low | |||
| R3 | 16.8000 | * | break level | S2 | 16.2000 | * | congestion | |
| R2 | 16.6000 | break level | S3 | 16.0000 | ** | congestion | ||
| R1 | 16.5000 | break level | S4 | 15.8030 | * | 12 Feb (m) low |
Asterisk denotes strength of level
12:40 GMT - Consolidation around 16.8000 has given way to further losses, as intraday studies turn down, with prices reaching support within congestion around 16.2000 and the 16.2850 range lows from 4 March. Daily readings are under pressure, highlighting room for a break beneath here. But rising weekly charts should limit scope in renewed buying interest above congestion support at 16.0000. Meanwhile, resistance is lowered to 16.5000 - 16.6000. But a close above the 16.9170 current year high of 9 March is needed to turn sentiment positive and extend late-January gains initially towards strong resistance at 17.0000.