Published: 2026-07-10T11:13:46.000Z
Chart USD/ZAR Update: Leaning lower in range
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The anticipated test above congestion resistance at 16.4000 has not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.8000 | ** | congestion | S1 | 16.2500 | * | congestion | |
| R3 | 16.6750 | ** | 24 Jun (m) high | S2 | 16.1400 | ** | 17 Apr (m) low | |
| R2 | 16.6000 | * | congestion | S3 | 16.0170 | ** | 76.4% ret of Jan-Mar rally | |
| R1 | 16.4000 | congestion | S4 | 16.0000 | ** | congestion |
Asterisk denotes strength of level
11:55 BST - The anticipated test above congestion resistance at 16.4000 has not been seen, as intraday studies turn down, with prices drifting lower into fresh consolidation above congestion support at 16.2500. A test beneath here cannot be ruled out. But mixed daily and weekly charts should limit initial scope in renewed consolidation above the 16.1400 monthly low of 17 April. A close beneath here, however, will turn sentiment negative and extend March losses towards the 16.0000 -16.0170 range. Meanwhile, a test above 16.4000, if seen, should be limited in consolidation beneath further congestion around 16.6000.