USD/ZAR Up 945 Pips On 4 Hour Chart, 2 Day Down Streak Snapped; is Inching Close to 200 Day Average

USD/ZAR 4 Hour Price Update

Updated July 22, 2020 09:20 AM GMT (05:20 AM EST)

The choppiness in the recent four-hour candle price action of USD/ZAR continues; to start the current 4 hour candle, it came in at a price of 16.4898, up 945 pips (0.58%) since the previous 4 hours. For context, observe that the previous 4 hours were noteworthy in the sense that USD/ZAR bested all 37 of the assets in the Forex class.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/ZAR entered today at 16.40975, up 202 pips (0.12%) from yesterday. Compared to its peers in the Forex, USD/ZAR gave its buyers a return that ranked 10th in terms of percentage change since yesterday. Below is a price chart of USD/ZAR.

USD/ZAR Technical Analysis

Coming into today USD/ZAR is now close to its 20 and 200 day averages, located at 16.8168 and 16.3869 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 228.7 pips away. 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 USD/ZAR’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much commentary on USDZAR that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Something to think about.Trade with care use a stop loss.