USDZAR

(Last Updated September 21, 2020)

Welcome to the news page for USDZAR (USDZAR). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90, 30 and 14 day timeframes, we see a downtrend in place for USDZAR.

USDZAR Moving Averages

The moving averages on USDZAR summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, save for a spike that occurred about 6 months ago.

The chart below illustrates.

As for assets in the Forex asset class USDZAR has been correlated to over the past week, it has been most correlated with ZARJPY. ZARJPY is the asset with which USDZAR has been most correlated with over the past two weeks as well, so this may be a recurring pattern. Alternatively, CADCHF has been the asset least correlated with USDZAR — but if we observe the prior two weeks, AUDCHF has been the asset least correlated with USDZAR. See the chart below to observe the recent price action in USDZAR versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the moment, USDZAR’s rate is down -0.4278 (-2.56%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as USDZAR has now gone down 4 of the past 5 weeks. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows USDZAR’s price action over the past year.