USD/ZAR Down 83 Pips Over Past Hour; 2 Day Down Streak Ended

Hourly Update

(Last Updated January 14, 2022 1:40 GMT)

At the time of this writing, USDZAR’s rate is down -83 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDZAR. Given that we see an uptrend on the 20 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)

The back and forth price flow continues for USDZAR, which started today off at 15.388, up 940 pips 0.61% from the day prior. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. The price chart of USDZAR below illustrates.

USDZAR

USDZAR Technical Analysis

The first thing we should note is that the current price of USDZAR is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 100 day average, which is 1464 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days USDZAR’s price has gone down 8 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDZAR; just 3 sell signals and 2 buy signals. This imputes a buy/sell ratio of 0.67, which is bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The Rand has strengthened against the dollar, mainly due to the post CPI dollar sell-off as the over-crowded greenback recalibrates hawkish Fed bets