Published: 2026-04-30T11:33:43.000Z
Chart USD/ZAR Update: Reached 16.8000
1
Anticipated gains have reached congestion resistance at 16.8000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.2750 | ** | 38.2% ret of 2025-2026 fall | S1 | 16.6000 | break level | ||
| R3 | 17.2000 | ** | break level | S2 | 16.5000 | break level | ||
| R2 | 17.0000 | * | congestion | S3 | 16.4000 | congestion | ||
| R1 | 16.8000 | * | congestion | S4 | 16.2520 | ** | 61.8% ret of Jan-Mar rally |
Asterisk denotes strength of level
11:50 BST - Anticipated gains have reached congestion resistance at 16.8000, with prices spiking to 16.9150~ before settling lower. Negative intraday studies highlight room for a pullback. But rising daily readings and improving weekly charts should limit scope in renewed buying interest above support at 16.6000. Meanwhile, a close above 16.8000 would help to improve sentiment and extend mid-April gains towards further congestion around 17.0000.