Published: 2025-10-23T11:25:05.000Z
Chart USD/ZAR Update: Consolidating - studies improving
1
No change, as prices settle back from congestion resistance at 17.5000 to trade around 17.3625
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.7165 | ** | 50% ret of Aug-Oct fall | S1 | 17.2000 | * | congestion | |
| R3 | 17.7000 | * | congestion | S2 | 17.0630 | * | 9 Oct YTD low | |
| R2 | 17.5625 | * | 38.2% ret of Aug-Oct fall | S3 | 17.0315 | ** | 30 Sep 2024 (y) low | |
| R1 | 17.5000 | ** | congestion | S4 | 17.0000 | ** | congestion |
Asterisk denotes strength of level
11:50 BST - No change, as prices settle back from congestion resistance at 17.5000 to trade around 17.3625. Daily stochastics and the daily Tension Indicator continue to rise, highlighting room for fresh gains in the coming sessions. A break above 17.5000 will improve sentiment and extend October gains towards the 17.5625 Fibonacci retracement. Rising weekly charts point to room for continuation towards congestion around 17.7000. Meanwhile, support remains at congestion around 17.2000, and should underpin any immediate setbacks.