USDZAR Down 84 Pips On Hourly Chart, 2 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated February 22, 2021 23:16 GMT)

At the time of this writing, 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Of note is that the 100, 20 and 200 hour changed directions on USDZAR; they are now pointing down. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward 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 14.6449, up 465 pips 0.32% from the day prior. Relative to other instruments in the Forex asset class, USDZAR ranked 12th the day prior in terms of percentage price change. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Coming into today the current price of USDZAR is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 19 out of the past 30 days.