Published: 2025-04-14T11:14:13.000Z
Chart USD/ZAR Update: Under pressure
Senior Technical Strategist
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Steady selling interest has broken below 19.0000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 19.9185 | ** | May 2023 (y) high | S1 | 18.7250 | * | congestion | |
| R3 | 19.5000 | congestion | S2 | 18.5000 | ** | break level | ||
| R2 | 19.2500 | break level | S3 | 18.2500 | * | congestion | ||
| R1 | 19.0000 | ** | congestion | S4 | 18.0000 | ** | cong, 18 Mar YTD low |
Asterisk denotes strength of level
11:30 BST - Steady selling interest has broken below 19.0000, with prices currently consolidating around 18.9000 as oversold intraday studies flatten. Daily readings are negative and the rising weekly Tension Indicator is flattening, suggesting room for a test of congestion support at 18.7250. But rising weekly stochastics and improving longer-term charts should limit any deeper losses in renewed buying interest above 18.5000. Meanwhile, a close back above 19.0000 would help to stabilise price action and prompt consolidation beneath 19.2500.