USDZAR Up 125 Pips Over Past Hour, Tops All Forex; Came Into Today Up For the 3rd Consecutive Day

Hourly Update

(Last Updated June 10, 2021 7:17 GMT)

At the time of this writing, USDZAR’s rate is up 125 pips (0.09%) from the hour prior. The hourly chart shows that USDZAR has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDZAR. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

USDZAR is up 1850 pips (1.36%) since the previous day (opening today near 13.7506), marking the 3rd consecutive day it has gone up. USDZAR outperformed all 39 assets in the Forex asset class the previous day. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Coming into today the current price of USDZAR is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 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 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.