USD/ZAR Down 25 Pips On Hourly Chart, Moves Down For the 3rd Consecutive Day; is Inching Close to 50 Day Average

Hourly Update

(Last Updated December 27, 2021 1:36 GMT)

Currently, USDZAR’s rate is down -25 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 down 1018 pips (0.65%) since yesterday (opening today near 15.5535), marking the 3rd consecutive day a decrease has occurred. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 38th in terms of percentage change since yesterday. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Notably, the current price of USDZAR is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days.