Published: 2025-08-07T11:28:32.000Z
Chart USD/ZAR Update: Prices remain under pressure
Senior Technical Strategist
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The anticipated break below 17.8000 has reached congestion support at 17.7000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.3575~ | * | 1 Aug (w) high | S1 | 17.7000 | * | congestion | |
| R3 | 18.1525 | ** | 19 Jun (m) high | S2 | 17.6000 | * | congestion | |
| R2 | 18.0000 | ** | congestion | S3 | 17.5000 | ** | congestion | |
| R1 | 17.8000 | * | congestion | S4 | 17.2500 | ** | 7 Nov (m) low |
Asterisk denotes strength of level
12:10 BST - The anticipated break below 17.8000 has reached congestion support at 17.7000, where oversold intraday studies are prompting short-term reactions. Daily readings continue to fall, highlighting room for continuation down to 17.6000. But rising weekly charts should limit any tests beneath here in renewed consolidation/buying interest above 17.5000. Meanwhile, resistance is is lowered to congestion around 17.8000. A close above here would help to stabilise price action and prompt consolidation beneath further congestion around 18.0000.