Watching $USDZAR at the 16.80 level again

Been keeping an eye on $USDZAR, and it's back knocking on that 16.80 resistance today, hitting 16.82607 earlier. We saw it poke above there a few times in late July, early August, but it never really held. Each time it seemed to reject pretty cleanly and move back down towards the 16.50-16.60 area.

My take is that a sustained break above 16.80, say, a daily close significantly above it, would invalidate the current range-bound scenario I'm looking at. If that happens, then we could be looking at a move towards 17.00 fairly quickly. Until then, I'm still viewing 16.80 as pretty strong resistance, and the current intraday move is consistent with previous attempts that failed to follow through.