(Last Updated December 31, 2020 2:17 GMT)
Currently, USDZAR’s rate is down -84 pips (-0.06%) 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 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 14.5926, down 1177 pips 0.8% from the previous day. Relative to other instruments in the Forex asset class, USDZAR ranked 39th the previous day in terms of percentage price change. Here is a price chart of USDZAR.
USDZAR Technical Analysis
Notably, USDZAR is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 USDZAR’s price has gone down 8 them.