Published: 2026-05-19T11:01:22.000Z
Chart USD/ZAR Update: Room for a minor test higher
3
Little change, as the anticipated test of support at 16.6000 gives way to consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.2000 | ** | congestion | S1 | 16.6000 | break level | ||
| R3 | 17.0000 | * | congestion | S2 | 16.5000 | break level | ||
| R2 | 16.9150 | ** | 30 Apr (w) high | S3 | 16.4000 | congestion | ||
| R1 | 16.8000 | * | congestion | S4 | 16.2520 | ** | 61.8% ret of Jan-Mar rally |
Asterisk denotes strength of level
11:50 BST - Little change, as the anticipated test of support at 16.6000 gives way to consolidation. Daily readings continue to rise, highlighting room for a retest higher. But mixed weekly charts should limit any immediate gains in renewed selling interest beneath congestion resistance at 16.8000. Longer-term studies are improving, but a close above the 16.9150 weekly high of 30 April is needed to turn sentiment positive and confirm continuation of April gains. Meanwhile, any immediate tests back below 16.6000 should be limited in fresh buying interest towards 16.5000.