USDZAR Down 120 Pips Over Past Hour; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated April 23, 2021 2:16 GMT)

Currently, USDZAR’s rate is down -120 pips (-0.08%) from the hour prior. USDZAR has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USDZAR, which started today off at 14.2975, up 567 pips 0.4% from the previous day. Relative to other instruments in the Forex asset class, USDZAR ranked 6th the previous day in terms of percentage price change. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

The first thing we should note is that USDZAR is now close to its 20 day averages, located at 14.5282 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days USDZAR’s price has gone down 16 them.

The View From Around the Web

Not much commentary on USDZAR that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com that we thought you might enjoy.