Published: 2025-06-19T11:29:06.000Z
Chart USD/ZAR Update: Consolidating - studies edging higher
Senior Technical Strategist
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Little change, as prices extend cautious trade within 18.0000 - 18.1000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.5000 | * | congestion | S1 | 17.8500 | break level | ||
| R3 | 18.2500 | * | congestion | S2 | 17.7150 | ** | 76.4% ret of 2024-2025 rally | |
| R2 | 18.1000 | * | break level | S3 | 17.6150 | ** | 12 Dec (m) low | |
| R1 | 18.0000 | ** | congestion | S4 | 17.5000 | * | congestion |
Asterisk denotes strength of level
12:20 BST - Little change, as prices extend cautious trade within 18.0000 - 18.1000. Daily readings continue to rise and oversold weekly stochastics are unwinding, highlighting room for continuation beyond here towards congestion resistance at 18.2500. However, the negative weekly Tension Indicator and bearish longer-term readings are expected to limit any initial tests in consolidation. Meanwhile, support remains at 17.8500. A close back beneath here, if seen, will turn sentiment neutral once again and prompt consolidation above the 17.7150 Fibonacci retracement.