USDZAR: Watching the 16.75 Level

Been closely watching $USDZAR action around the 16.75 mark. We saw it dip just below that yesterday, hitting 16.7536 at its lowest, and it's currently trading around 16.79922. For me, that 16.75 area has been a critical pivot point on the daily chart for some time now. If we can get a sustained break below it, say with a daily close convincingly under 16.70, it would suggest a real shift in momentum and potentially open up a move towards the mid-16s. However, if we fail to hold below 16.75 and instead consolidate back towards 16.85-16.90, that would invalidate the downside scenario I'm considering, putting the recent lows back in play as a re-test, rather than a definitive breakdown. The range has been quite tight lately, so a clean move one way or the other would be informative.