USD/ZAR resumes downtrend after brief pause – Société Générale

FXStreetJan 22, 2026 10:44 AM

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USD/ZAR has resumed its downward trajectory after slipping below key support levels, with potential targets at 16.10 and 15.90-15.75, Société Générale's FX analysts note.

Break below range targets 16.10 and lower

"USD/ZAR has experienced a steady downtrend after dipping below the 50‑DMA in May 2025. It underwent a brief pause recently; however, the decline has resumed, as highlighted by the break below the range."

"The pair is likely to deepen its down move towards August 2022 low of 16.10 and projections near 15.90/15.75. If a short‑term bounce develops, the upper limit of the previous consolidation at 16.58/16.75, which is also the 50‑DMA, may serve as an important resistance."

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