Published: 2026-05-11T11:06:24.000Z
Chart USD/ZAR Update: Consolidating - studies under pressure
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Little change, as prices extend cautious trade beneath resistance at 16.5000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.0000 | * | congestion | S1 | 16.2520 | ** | 61.8% ret of Jan-Mar rally | |
| R3 | 16.8000 | * | congestion | S2 | 16.1400 | * | 17 Apr (m) low | |
| R2 | 16.6000 | break level | S3 | 16.0170 | ** | 76.4% ret of Jan-Mar rally | ||
| R1 | 16.5000 | break level | S4 | 16.0000 | ** | congestion |
Asterisk denotes strength of level
11:55 BST - Little change, as prices extend cautious trade beneath resistance at 16.5000. Daily readings continue to point lower and broader weekly charts are under pressure, highlighting room for fresh losses in the coming sessions. Support is at the 16.2520 Fibonacci retracement. A later break beneath here will open up the 16.1400 monthly low of 17 April. Further selling will add weight to sentiment and extend late-March losses towards the 16.0000 - 16.0170 range. Meanwhile, resistance is at 16.5000 and extends to 16.6000. This range should cap immediate gains.