Published: 2025-10-14T11:00:05.000Z
Chart USD/ZAR Update: Pushing higher - studies improving
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Choppy trade has given way to a fresh test higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.8000 | * | congestion | S1 | 17.2000 | * | congestion | |
| R3 | 17.7000 | * | congestion | S2 | 17.0630 | * | 9 Oct YTD low | |
| R2 | 17.5000 | ** | congestion | S3 | 17.0315 | ** | 30 Sep 2024 (y) low | |
| R1 | 17.4000 | * | break level | S4 | 17.0000 | ** | congestion |
Asterisk denotes strength of level
11:50 BST - Choppy trade has given way to a fresh test higher, with prices once again pressuring resistance within the 17.4000 - 17.5000 range. Daily studies are rising and oversold weekly stochastics are unwinding, highlighting an improvement in price action and room for further gains in the coming sessions. A break above 17.5000 will improve sentiment and extend early-October gains towards further resistance within 17.7000 - 17.8000. However, by-then overbought daily stochastics could limit any initial tests in profit-taking/consolidation. Meanwhile, support is at congestion around 17.2000 and should underpin any immediate setbacks.