Published: 2026-05-20T12:09:01.000Z
Chart USD/ZAR Update: Choppy in range
1
Still little change, as prices extend cautious trade within the 16.6000 - 16.8000 range
| 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
12:40 BST - Still little change, as prices extend cautious trade within the 16.6000 - 16.8000 range. Intraday studies have turned down and rising daily stochastics are flattening, suggesting room for a test below 16.6000 towards 16.5000. However, the rising daily Tension Indicator and mixed weekly charts should limit any deeper losses in renewed consolidation above 16.4000. Meanwhile, resistance remains at congestion around 16.8000. But a close above the 16.9150 weekly high of 30 April is needed to turn sentiment positive and confirm continuation of April gains.