USD/ZAR Down 147 Pips On 4 Hour Chart, Nears 200 Day Moving Average; Pin Bar Pattern Appearing on Chart

USD/ZAR 4 Hour Price Update

Updated July 29, 2020 01:17 AM GMT (09:17 PM EST)

USD/ZAR entered the current 4 hour candle at 16.5192, down 147 pips (0.09%) from the last 4 hour candle. Compared to its peers in the Forex, USD/ZAR gave its buyers a return that ranked 35th in terms of percentage change since the last 4 hour candle.

USD/ZAR End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/ZAR, which started today off at 16.51037, down 27 pips 0.02% from the day prior. Relative to other instruments in the Forex asset class, USD/ZAR ranked 30th the day prior in terms of percentage price change. The price chart of USD/ZAR below illustrates.


USD/ZAR Technical Analysis

Notably, USD/ZAR is now close to its 20, 50 and 200 day averages, located at 16.6757, 16.9166 and 16.4454 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 649.4 pips away. Volatility for USD/ZAR has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 7 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDZAR, with 6 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on that we thought you might enjoy.