USDZAR Up 76 Pips On Hourly Chart, Fares the Worst Out of Forex; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 7, 2021 3:16 GMT)

At the time of this writing, USDZAR’s rate is up 76 pips (0.06%) from the hour prior. The hourly chart shows that USDZAR has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 13.4346, down 1955 pips 1.43% from yesterday. Those trading within the Forex asset class should know that USDZAR was the worst performer in the class. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 14 days USDZAR’s price has gone down 10 them.

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

Will we see on more impulse to the upside before we take out 13,400???