USDZAR

(Last Updated April 15, 2021)

Hello! This is the news page for USDZAR. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDZAR

The Trend

On USDZAR, there is currently a downtrend on the 30 and 14 day timeframes.

USDZAR Moving Averages

The moving averages on USDZAR indicate a trend that is clearly bearish.

Below is a chart showing USDZAR’s price with its moving averages.

As for assets in the Forex asset class USDZAR has been correlated to over the past week, it has demonstrated the strongest correlation with NZDCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDZAR is USDMXN. On the flip side, the asset least correlated with USDZAR over the past week has been CADCHF, but if we observe the prior two weeks, the asset least correlated with USDZAR has been GBPUSD. The chart below illustrates USDZAR against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, USDZAR’s rate is down -2065 pips (-1.41%) from the week prior. USDZAR has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. USDZAR’s weekly price action over the past 52 weeks can be seen via the chart below.

USDZAR: The Monthly View

Clearest trend on the monthly is apparent at the 120 month timeframe.