Published: 2025-08-27T11:13:34.000Z
Chart USD/ZAR Update: Room for higher in the coming sessions
Senior Technical Strategist
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Cautious trade has given way to the anticipated break into congestion resistance within 17.7000-17.8000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.1525 | ** | 19 Jun (m) high | S1 | 17.5000 | ** | congestion | |
| R3 | 18.0000 | ** | congestion | S2 | 17.4060 | ** | 25 Aug 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
12:00 BST - Cautious trade has given way to the anticipated break into congestion resistance within 17.7000-17.8000. Intraday studies are rising and daily readings are improving, highlighting an improvement in sentiment and room for further strength in the coming sessions. A break above 17.8000 will open up further congestion around 18.0000. However, mixed weekly charts are expected to limit any initial tests in renewed consolidation. Meanwhile, support remains at congestion around 17.5000 and extends to the 17.4060 current year low of 25 August. This range should underpin any immediate setbacks.