(Last Updated April 12, 2021 21:16 GMT)
Currently, USDZAR’s rate is down -122 pips (-0.08%) 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 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below 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)
The back and forth price flow continues for USDZAR, which started today off at 14.5937, up 896 pips 0.62% from the day prior. On a relative basis, the day prior was pretty good: USDZAR bested all 39 of the assets in the Forex class 🙂 Below is a price chart of USDZAR.
USDZAR Technical Analysis
Coming into today the current price of USDZAR is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 15 out of the past 30 days.
The View From Around the Web
Not much commentary on USDZAR that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com that we thought you might enjoy.