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Published: 2025-07-01T11:25:13.000Z

Chart USD/ZAR Update: Fresh year lows

byMike Macdonald

Senior Technical Strategist
-

Choppy trade has given way to anticipated losses

 Level Comment  Level Comment
R4 18.1000*break level S1 17.6150**12 Dec (m) low
R3 18.0000**congestion S2 17.5000*congestion
R2 17.8500 break level S3 17.2500*7 Nov (m) low
R1 17.8000*congestion S4 17.0315**30 Sep 2024 (y) low

Asterisk denotes strength of level

12:05 BST - Choppy trade has given way to anticipated losses, as intraday studies turn down, with prices posting fresh year lows beneath the 17.6150 monthly low of 12 December. Daily readings are bearish and weekly charts are also under pressure, highlighting room for continuation of April losses towards congestion around 17.5000. A break will open up the 17.2500 monthly low of 7 November, where already oversold daily stochastics could prompt fresh consolidation. Meanwhile, resistance is lowered to congestion around 17.8000 and extends to 17.8500. This range should cap any immediate tests higher.

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Topics
USD/ZAR-TA
Technical Analysis
EEMEA-Technical

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