USDZAR Up 194 Pips On Hourly Chart, Entered Today Up For the 4th Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated January 7, 2021 2:16 GMT)

Currently, USDZAR’s rate is up 194 pips (0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 20 hour changed directions on USDZAR; it is now pointing up. 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 880 pips (0.59%) since the day prior (opening today near 15.0704), marking the 4th straight day an increase has occurred. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Coming into today USDZAR is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 10 days USDZAR’s price has gone up 7 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.