Published: 2026-05-18T11:30:04.000Z
Chart USD/ZAR Update: Consolidating gains - studies rising
2
Anticipated gains have met selling interest just beneath congestion resistance at 16.8000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.2000 | ** | congestion | S1 | 16.6000 | break level | ||
| R3 | 17.0000 | * | congestion | S2 | 16.5000 | break level | ||
| R2 | 16.9150 | * | 30 Apr (w) high | S3 | 16.4000 | congestion | ||
| R1 | 16.8000 | * | congestion | S4 | 16.2520 | ** | 61.8% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:10 BST - Anticipated gains have met selling interest just beneath congestion resistance at 16.8000, as intraday studies turn down, with prices currently trading around 16.6875. A test of support at 16.6000 cannot be ruled out. But rising daily readings and improving weekly charts should limit any break in renewed buying interest above 16.5000. Following cautious/corrective trade, fresh gains are looked for. But a close above the 16.9150 weekly high of 30 April is needed to turn sentiment positive and confirm continuation of mid-April gains.