Published: 2026-05-29T12:23:43.000Z
Chart USD/ZAR Update: Lower towards critical support
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Cautious trade has given way to anticipated tests lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 16.8000 | * | congestion | S1 | 16.1400 | ** | 17 Apr (m) low | |
| R3 | 16.6000 | * | congestion | S2 | 16.0170 | ** | 76.4% ret of Jan-Mar rally | |
| R2 | 16.4000 | congestion | S3 | 16.0000 | ** | congestion | ||
| R1 | 16.2500 | * | congestion | S4 | 15.8215 | ** | 26 Feb (w) low |
Asterisk denotes strength of level
13:05 BST - Cautious trade has given way to anticipated tests lower, with prices currently trading around 16.2250. Daily readings are under pressure, highlighting room for a test of critical support at the 16.1400 monthly low of 17 April. However, bearish weekly charts highlight room for a later break beneath here and extension of late-March losses towards the 16.0170 retracement. Meanwhile, resistance is lowered to congestion around 16.2500. A close above here, if seen, would help to stabilise price action and give way to consolidation beneath further congestion around 16.4000.