USDZAR Down 66 Pips Over Past Hour, Moves Up For the 3rd Consecutive Day; But Still in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 10, 2021 18:18 GMT)

Currently, USDZAR’s rate is down -66 pips (-0.05%) from the hour prior. This is the 2nd consecutive hour USDZAR has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 100 hour changed directions on USDZAR; it is now pointing up. 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 is up 1850 pips (1.36%) since the previous day (opening today near 13.7506), marking the 3rd consecutive day it has gone up. USDZAR outperformed all 39 assets in the Forex asset class the previous day. Let’s take a look at price chart of USDZAR.

USDZAR

USDZAR Technical Analysis

Notably, USDZAR is now close to its 20 day averages, located at 13.8116 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

Not much commentary on USDZAR that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.