Published: 2025-08-21T11:50:10.000Z
Chart USD/ZAR Update: Further gains to remain limited
Senior Technical Strategist
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The anticipated break above congestion resistance at 17.7000 has met selling interest beneath further congestion around 17.8000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.1525 | ** | 19 Jun (m) high | S1 | 17.5000 | ** | congestion | |
| R3 | 18.0000 | ** | congestion | S2 | 17.4690 | ** | 4 Jul YTD low | |
| R2 | 17.8000 | * | congestion | S3 | 17.2500 | ** | 7 Nov (m) low | |
| R1 | 17.7000 | * | congestion | S4 | 17.0315 | ** | 30 Sep 2024 (y) low |
Asterisk denotes strength of level
12:30 BST - The anticipated break above congestion resistance at 17.7000 has met selling interest beneath further congestion around 17.8000, with mixed intraday studies prompting consolidation around 17.7000. Daily readings continue to rise, suggesting room for a fresh test higher. But deteriorating weekly charts are expected to limit any break above 17.8000 in renewed selling interest beneath 18.0000. Meanwhile, support remains at congestion around 17.5000 and extends to the 17.4690 current year low of 4 July. This range should underpin any immediate setbacks.