USD/ZAR Down 3 Pips in Last Hour, Came Into Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 23, 2021 1:38 GMT)

Currently, USDZAR’s rate is down 3 pips (0%) 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 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on USDZAR. Given that we see an uptrend on the 20 and 10 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 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 1326 pips (0.84%) since yesterday (opening today near 15.8503), marking the 3rd consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, USDZAR ranked 5th yesterday in terms of percentage price change. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.

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 dailyfx.com; below is a short snippet from it to give you a taste.

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