Published: 2025-11-25T13:05:47.000Z
Chart USD/ZAR Update: Limited downside tests
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Cautious trade around 17.2700~ has given way to fresh selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.6550 | ** | 50% ret of Aug-Oct fall | S1 | 17.2000 | * | congestion | |
| R3 | 17.5775 | 5 Nov (w) high | S2 | 17.0315 | ** | 30 Sep 2024 (y) low | ||
| R2 | 17.5000 | ** | congestion | S3 | 17.0000 | ** | congestion | |
| R1 | 17.4000 | * | congestion | S4 | 16.9495 | ** | 13 Nov YTD low |
Asterisk denotes strength of level
12:55 GMT - Cautious trade around 17.2700~ has given way to fresh selling interest, with prices approaching congestion support at 17.2000. Negative intraday studies highlight potential for a test beneath here. But rising daily readings and improving weekly charts should limit any break in renewed buying interest/consolidation above critical support within 16.9280 - 17.0315. Meanwhile, resistance remains at congestion resistance within 17.4000 - 17.5000. A close above here is needed to improve sentiment and extend mid-November gains beyond the 17.5775 weekly high of 5 November towards the 17.6550 Fibonacci retracement.