Published: 2026-06-11T11:40:26.000Z
Chart USD/ZAR Update: Leaning lower in range
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Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.9150 | ** | 30 Apr (w) high | S1 | 16.4000 | congestion | ||
| R3 | 16.8000 | * | congestion | S2 | 16.2500 | * | congestion | |
| R2 | 16.6630 | 8 Jun high | S3 | 16.1400 | ** | 17 Apr (m) low | ||
| R1 | 16.6000 | * | congestion | S4 | 16.0170 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:20 BST - Still little change, as prices extend cautious trade within the 16.4000 - 16.6000 range. Intraday studies are turning down and overbought daily stochastics are coming under pressure, highlighting potential for a minor pullback. But the positive daily Tension Indicator and mixed weekly charts should limit initial scope in further consolidation above congestion support at 16.4000. A break beneath here, if seen, should be limited in fresh consolidation above 16.2500. Meanwhile, a close above congestion resistance at 16.6000 would improve sentiment and open up further congestion around 16.8000, where renewed consolidation is expected to develop.