Published: 2026-03-20T12:13:49.000Z
Chart USD/ZAR Update: Choppy trade - background studies rising
2
Little change, as prices extend choppy trade beneath congestion resistance at 17.0000
| 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 choppy trade beneath congestion resistance at 17.0000. Daily readings are turning down, highlighting room for a break back below congestion support at 16.8000. But rising weekly charts should limit scope in renewed buying interest/consolidation above the 16.5000 - 16.6000 range. Following cautious/corrective trade, fresh gains are looked for. However, a close above 17.0000 is needed to improve sentiment and extend late-January gains towards the 17.2750 Fibonacci retracement.