Published: 2025-03-26T12:06:41.000Z
Chart USD/ZAR Update: Range extension - limited tests higher
Senior Technical Strategist
-
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.8500 | break level | S1 | 18.0465 | ** | 7 Mar (m) low | ||
| R3 | 18.7250 | * | congestion | S2 | 18.0000 | ** | congestion | |
| R2 | 18.5000 | ** | break level | S3 | 17.8700 | ** | 61.8% ret of Sep-Jan rally | |
| R1 | 18.3000 | ** | break level | S4 | 17.6150 | ** | 12 Dec (m) low |
Asterisk denotes strength of level
11:45 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend cautious trade just below resistance at the 18.3000 break level. Daily readings continue to rise, highlighting room for a later break above here towards the 18.5000 break level. But already overbought daily stochastics and negative weekly charts are expected to limit any tests in renewed selling interest/consolidation. Meanwhile, support remains down to the 18.0465 monthly low of 7 March and extends to congestion around 18.0000. This range should underpin any immediate setbacks.