(Last Updated April 19, 2021 22:16 GMT)
At the time of this writing, USDZAR’s rate is up 204 pips (0.14%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 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)
USDZAR, which opened today priced near 14.3009, is up 1453 pips 1.03% since yesterday, marking a reversal from the day prior — and the end of a 4 day negative run. USDZAR outperformed all 39 assets in the Forex asset class yesterday. Congrats to its holders! Here is a price chart of USDZAR.
USDZAR Technical Analysis
The first thing we should note is that the current price of USDZAR is sitting close to its 20 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. Or to simplify this another way, note that out of the past 30 days USDZAR’s price has gone down 17 them.