USDZAR

(Last Updated November 27, 2020)

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

The Trend

On USDZAR, there is currently a downtrend on the 90, 30 and 14 day timeframes.

USDZAR Moving Averages

USDZAR’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, suggesting the trend is generally downward, save for a rally that occurred about 6 months ago.

The chart below illustrates.

Regarding USDZAR’s correlations over the past 7 days, it has demonstrated the strongest correlation with USDNOK. Over the past 14 days, however, the asset showing the strongest correlation to USDZAR is EURUSD. On the flip side, USDCNH has been the asset least correlated with USDZAR — but over the past two weeks, CHFJPY 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 time of this writing, USDZAR’s rate is down -0.215 (-1.4%) 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. 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows USDZAR’s price action over the past year.

USDZAR: The Monthly View

Strongest trend on the 24 month timeframe.