USDZAR Up 44 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 1, 2021 2:16 GMT)

At the time of this writing, USDZAR’s rate is up 44 pips (0.03%) 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 50 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 13.7183, down 396 pips 0.29% from yesterday. Out of the 39 instruments in the Forex asset class, USDZAR ended up ranking 34th for the day in terms of price change. Below is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

The first thing we should note is that USDZAR is now close to its 20 day moving averages, which may act as price barrier for the asset. 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 8 out of the past 10 days.