Published: 2026-06-30T11:44:18.000Z
Chart USD/ZAR Update: Leaning lower
1
Cautious trade is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.9150 | ** | 30 Apr (w) high | S1 | 16.4000 | congestion | ||
| R3 | 16.8000 | ** | congestion | S2 | 16.2500 | * | congestion | |
| R2 | 16.6750 | 24 Jun high | S3 | 16.1400 | ** | 17 Apr (m) low | ||
| R1 | 16.6000 | * | congestion | S4 | 16.0170 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:10 BST - Cautious trade is giving way to a drift lower, with prices currently testing levels just beneath congestion support at 16.4000. Daily stochastics and the daily Tension Indicator are falling, highlighting room for continuation beneath here towards further congestion around 16.2500. But mixed weekly charts should limit any initial tests in renewed buying interest/consolidation. Meanwhile, resistance remains at congestion around 16.6000 and should cap any immediate tests higher.