Published: 2026-06-24T11:35:46.000Z
Chart USD/ZAR Update: Pushing higher
1
Choppy trade around 16.4000 is giving way to fresh gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.9150 | ** | 30 Apr (w) high | S1 | 16.4000 | congestion | ||
| R3 | 16.8000 | ** | congestion | S2 | 16.2500 | * | congestion | |
| R2 | 16.6630 | 8 Jun (w) high | S3 | 16.1400 | ** | 17 Apr (m) low | ||
| R1 | 16.6000 | * | congestion | S4 | 16.0170 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:20 BST - Choppy trade around 16.4000 is giving way to fresh gains, with prices currently testing levels just above congestion resistance at 16.6000. Daily readings are rising, suggesting potential for further gains in the coming sessions. But mixed weekly charts should limit initial scope in renewed selling interest/consolidation beneath further congestion around 16.8000. Meanwhile, support is at congestion around 16.4000 and should underpin any immediate setbacks.