Published: 2025-08-12T12:15:04.000Z
Chart USD/ZAR Update: Extending cautious trade
Senior Technical Strategist
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Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.3575~ | * | 1 Aug (w) high | S1 | 17.7000 | * | congestion | |
| R3 | 18.1525 | ** | 19 Jun (m) high | S2 | 17.6000 | * | congestion | |
| R2 | 18.0000 | ** | congestion | S3 | 17.5000 | ** | congestion | |
| R1 | 17.8000 | * | congestion | S4 | 17.2500 | ** | 7 Nov (m) low |
Asterisk denotes strength of level
12:55 BST - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation within the 17.7000-17.8000 range. Daily readings are under pressure, highlighting room for a test below congestion support at 17.7000. But mixed/positive weekly charts are expected to limit scope in renewed consolidation above strong congestion support at 17.5000. Meanwhile, resistance remains at congestion around 17.8000. Any immediate break above here should be limited in fresh consolidation beneath further congestion around 18.0000.