Published: 2025-10-17T11:52:14.000Z
Chart USD/ZAR Update: Consolidating - studies improving
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Consolidation has given way to a retest of resistance within 17.4000 - 17.5000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.8000 | * | congestion | S1 | 17.2000 | * | congestion | |
| R3 | 17.7000 | * | congestion | S2 | 17.0630 | * | 9 Oct YTD low | |
| R2 | 17.5000 | ** | congestion | S3 | 17.0315 | ** | 30 Sep 2024 (y) low | |
| R1 | 17.4000 | * | break level | S4 | 17.0000 | ** | congestion |
Asterisk denotes strength of level
12:35 BST - Consolidation has given way to a retest of resistance within 17.4000 - 17.5000. Daily readings have turned mixed/positive and broader weekly charts are also rising, highlighting room for further strength in the coming sessions. A close above 17.5000 will improve sentiment and extend early-October gains towards further resistance within 17.7000 - 17.8000. However, by-then overbought daily stochastics could limit any initial tests in profit-taking/consolidation. Meanwhile, support remains at congestion around 17.2000, and should underpin any immediate setbacks.