Published: 2026-05-14T10:50:09.000Z
Chart USD/ZAR Update: Consolidating - studies leaning lower
2
Little change, as prices extend cautious trade around congestion support at 16.4000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.0000 | * | congestion | S1 | 16.4000 | congestion | ||
| R3 | 16.8000 | * | congestion | S2 | 16.2520 | ** | 61.8% ret of Jan-Mar rally | |
| R2 | 16.6000 | break level | S3 | 16.1400 | * | 17 Apr (m) low | ||
| R1 | 16.5000 | break level | S4 | 16.0170 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
11:45 BST - Little change, as prices extend cautious trade around congestion support at 16.4000. Daily readings have turned mixed/negative and broader weekly charts are deteriorating, highlighting room for fresh losses. A close beneath here will add weight to sentiment and open up a test of the 16.2520 Fibonacci retracement. Meanwhile, resistance remains within the 16.5000 - 16.6000 range. A close above 16.6000 would help to improve sentiment and open up a test of congestion resistance at 16.8000.