Published: 2026-06-15T11:51:22.000Z
Chart USD/ZAR Update: Pressuring strong support
1
The anticipated break below 16.2500 has reached support at the 16.1400 monthly low of 17 April
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.6630 | 8 Jun high | S1 | 16.1400 | ** | 17 Apr (m) low | ||
| R3 | 16.6000 | * | congestion | S2 | 16.0170 | ** | 76.4% ret of Jan-Mar rally | |
| R2 | 16.4000 | congestion | S3 | 16.0000 | ** | congestion | ||
| R1 | 16.2500 | * | congestion | S4 | 15.8500 | ** | range lows |
Asterisk denotes strength of level
12:30 BST - The anticipated break below 16.2500 has reached support at the 16.1400 monthly low of 17 April, where flat oversold intraday studies are prompting short-term reactions. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close below 16.1400 will add weight to sentiment and extend late-March losses towards strong support within the 16.0000 - 16.0170 range. Meanwhile, a close back above 16.2500, if seen, would help to stabilise sentiment and prompt fresh consolidation beneath congestion resistance at 16.4000.