Published: 2025-07-09T11:01:07.000Z
Chart USD/ZAR Update: Choppy trade to continue higher
Senior Technical Strategist
1
Little change, as prices extend choppy trade within resistance at 17.8000-17.8500
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.1525 | ** | 19 Jun (m) high | S1 | 17.6000 | * | congestion | |
| R3 | 18.0000 | ** | congestion | S2 | 17.5000 | * | congestion | |
| R2 | 17.8500 | break level | S3 | 17.4680~ | current year low | |||
| R1 | 17.8000 | * | congestion | S4 | 17.2500 | * | 7 Nov (m) low |
Asterisk denotes strength of level
11:50 BST - Little change, as prices extend choppy trade within resistance at 17.8000-17.8500. Daily stochastics continue to rise and the daily Tension Indicator is improving, highlighting room for a break above here and extension of July gains towards congestion around 18.0000. But negative weekly charts should prompt renewed selling interest beneath here. Following corrective trade, fresh losses are looked for. A later close below congestion support at 17.5000 will add weight to sentiment and extend April losses towards the 17.2500 monthly low of 7 November.