Published: 2025-06-27T11:26:41.000Z
Chart USD/ZAR Update: Gains to remain limited
Senior Technical Strategist
1
The bounce from the fresh 2025 year low around 17.5700 is extending
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.5000 | ** | break level | S1 | 17.8500 | break level | ||
| R3 | 18.2500 | * | congestion | S2 | 17.7150 | ** | 76.4% ret of 2024-2025 rally | |
| R2 | 18.1000 | * | break level | S3 | 17.6150 | ** | 12 Dec (m) low | |
| R1 | 18.0000 | ** | congestion | S4 | 17.5000 | * | congestion |
Asterisk denotes strength of level
11:55 BST - The bounce from the fresh 2025 year low around 17.5700 is extending, as intraday studies continue to track higher, with prices currently trading above 17.8500. Negative daily readings are flattening, suggesting room for continuation towards resistance at 18.0000-18.1000. But mixed/negative weekly charts are expected to limit any initial tests in fresh consolidation. Meanwhile, support remains down to the 17.6150 monthly low of 12 December. A close beneath here would turn sentiment negative and extend losses from the 19.9250 current year high of 9 April, initially to congestion around 17.5000.