Published: 2026-06-16T11:24:20.000Z
Chart USD/ZAR Update: Extending pressure on strong support - studies falling
1
Little change, as prices extend consolidation above support at the 16.1400 monthly low of 17 April
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.6630 | 8 Jun high | S1 | 16.1400 | ** | 17 Apr (m) low | ||
| R3 | 16.6000 | * | congestion | S2 | 16.0170 | ** | 76.4% ret of Jan-Mar rally | |
| R2 | 16.4000 | congestion | S3 | 16.0000 | ** | congestion | ||
| R1 | 16.2500 | * | congestion | S4 | 15.8500 | ** | range lows |
Asterisk denotes strength of level
12:15 BST - Little change, as prices extend consolidation above support at the 16.1400 monthly low of 17 April. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close below 16.1400 will add weight to sentiment and extend late-March losses towards strong support within the 16.0000 - 16.0170 range. Meanwhile, resistance remains at congestion around 16.2500. A close above here, if seen, would help to stabilise sentiment and prompt fresh consolidation beneath further congestion at 16.4000.