(Last Updated January 5, 2022 1:39 GMT)
At the moment, USDZAR’s rate is up 80 pips (0.05%) from the hour prior. This is the 2nd straight hour USDZAR has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 16.0047, up 1319 pips 0.83% from the day prior. Out of the 39 instruments in the Forex asset class, USDZAR ended up ranking 8th for the day in terms of price change. The price chart of USDZAR below illustrates.
USDZAR Technical Analysis
Coming into today USDZAR is now close to its 20 and 50 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 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days USDZAR’s price has gone down 16 them.