Published: 2026-05-22T11:45:21.000Z
Chart USD/ZAR Update: Consolidating - studies under pressure
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Little change, as prices extend cautious trade above congestion support at 16.4000
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.0000 | * | congestion | S1 | 16.4000 | congestion | ||
| R3 | 16.9150 | ** | 30 Apr (w) high | S2 | 16.2520 | ** | 61.8% ret of Jan-Mar rally | |
| R2 | 16.8000 | * | congestion | S3 | 16.1400 | ** | 17 Apr (m) low | |
| R1 | 16.6000 | * | congestion | S4 | 16.0170 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
12:40 BST - Little change, as prices extend cautious trade above congestion support at 16.4000. Daily studies are deteriorating and broader weekly charts are coming under pressure, highlighting room for further losses in the coming sessions. A break below 16.4000 will open up strong support at the 16.2520 Fibonacci retracement. But any immediate tests beneath here should give way to fresh consolidation above the 16.1400 monthly low of 17 April. Meanwhile, resistance remains up to congestion around 16.6000. A close above here would open up 16.8000, where fresh consolidation is expected to appear.