USDZAR Down 38 Pips Over Past Hour, Came Into Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 5, 2021 2:16 GMT)

At the time of this writing, USDZAR’s rate is down -38 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDZAR is up 287 pips (0.2%) since yesterday (opening today near 14.7157), marking the 2nd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, USDZAR ranked 10th yesterday in terms of percentage price change. Below is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Notably, USDZAR is now close to its 20 day averages, located at 14.7997 respectively, and thus may be at a key juncture along those timeframes. Volatility for USDZAR has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days USDZAR’s price has gone down 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 0 sell signals and 2 buy signals. Bulls may note that this suggests a buy/sell ratio that is infinite. But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

The price broke a internal support and retested it so we are going to swing long with multiple TPS and a close sl