Chart USD/ZAR Update: Choppy in range - studies under pressure
Little change, as prices extend consolidation beneath resistance within the 17.0000 - 17.1200 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.5000 | ** | break level | S1 | 16.8000 | congestion | ||
| R3 | 17.2750 | ** | 38.2% ret of 2025-2026 fall | S2 | 16.6000 | break level | ||
| R2 | 17.1200 | * | 9 Dec (w) high | S3 | 16.5000 | break level | ||
| R1 | 17.0000 | * | congestion | S4 | 16.2000 | * | congestion |
Asterisk denotes strength of level
11:55 GMT - Little change, as prices extend consolidation beneath resistance within the 17.0000 - 17.1200 range. Intraday studies are falling and daily readings are also coming under pressure, highlighting room for a pullback in the coming sessions. Support is at congestion around 16.8000. A break beneath here will open up support within the 16.5000 - 16.6000 range. But positive weekly charts should limit any initial tests of here in renewed consolidation. Meanwhile, a close above the 17.1200 weekly high of 9 December is needed to improve sentiment and extend late-January gains towards the 17.2750 Fibonacci retracement. Flat overbought weekly stochastics could limit any initial tests in profit-taking/consolidation.