Published: 2025-08-11T12:03:35.000Z
Chart USD/ZAR Update: Consolidating - any gains to remain limited
Senior Technical Strategist
1
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.3575~ | * | 1 Aug (w) high | S1 | 17.7000 | * | congestion | |
| R3 | 18.1525 | ** | 19 Jun (m) high | S2 | 17.6000 | * | congestion | |
| R2 | 18.0000 | ** | congestion | S3 | 17.5000 | ** | congestion | |
| R1 | 17.8000 | * | congestion | S4 | 17.2500 | ** | 7 Nov (m) low |
Asterisk denotes strength of level
12:45 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation within the 17.7000-17.8000 range. Negative daily stochastics are flattening, suggesting potential for a test of congestion resistance at 17.8000. But the negative daily Tension Indicator and mixed weekly charts are expected to limit any break in renewed consolidation beneath further congestion around 18.0000. Meanwhile, support remains at 17.7000 and extends to stronger support at congestion around 17.5000. This broad range should underpin any immediate setbacks.