USDZAR Up 135 Pips On Hourly Chart; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated October 15, 2020 2:15 GMT)

Currently, USDZAR’s rate is up 135 pips (0.08%) from the hour prior. This is the 2nd consecutive hour USDZAR has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning above it. 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)

USDZAR entered today at 16.523101, up 678 pips (0.41%) from the previous day. Compared to its peers in the Forex, USDZAR gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Here is a price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Coming into today USDZAR is now close to its 20, 50, 100 and 200 day averages, located at 16.6648, 16.8668, 16.9166 and 16.8001 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 1417.2 pips away. 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 9 out of the past 14 days.