USD/ZAR Down 389 Pips Over Past Hour, 4 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated December 29, 2021 1:42 GMT)

At the moment, USDZAR’s rate is down -389 pips (-0.25%) from the hour prior. The hourly chart shows that USDZAR has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

A moment of silence, please, for the end of USDZAR’s 4 day down streak; price ended the previous day up 2216 pips (1.43%) to finish the day at a rate of 15.7554. Relative to other instruments in the Forex asset class, USDZAR ranked 3rd the previous day in terms of percentage price change. Here is a 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. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 8 out of the past 14 days.