USDZAR - Potential Sell SETUP | Target: 16.7000USD/ZAR has recently shown signs of bullish exhaustion near the 17.4900zone, which aligns with a strong resistance level from the previous swing high. The pair has also started to form lower highs on the 4H chart, suggesting momentum is shifting in favor of the rand.
Technical Factors:
Resistance
About U.S. Dollar / South African Rand
The U.S. Dollar vs. the South African Rand. The Rand was and became legal tender in the late 50’s to early 60’s for South Africa, Swaziland, Lesotho and Namibia after moving away from the Pound. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.
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USDZAR updateWhen I posted my last idea on the USDZAR pair, the pair was trading just above the 200-week MA. The rand has managed to break below this level, currently at 17.74, and pull the pair all the way down to the 2024 low of 17.08. The rand however bounced hard off this support at 17.08 due to risk-on sent
SHORT TERM BULL RUNLooking at taking short term buying opportunities taking in to account the DXY index that is showing strength which will affect the rand to be weak. this setup will be invalid given that Gold gains strength as well we will have a consolidation in price. for now on LTF'S we looking for buying opportu
Engulfing Big shadow on reversal of USDzarPosting this a lot later than ideal but what are you going to do? Anyways there has been an engulfing "big Shadow " that printed at the bottom of this Fibonacci 2.618. this looks very promising as there is a lot of room to the left of this candle formation and should hopefully reverse nicely
Bearish drop off?USD/ZAR has rejected off the pivot which acts as an overlap resistance that aligns with the 50% Fibonacci retracement and could drop to the 1st support.
Pivot: 17.46351
1st Support: 17.15575
1st Resistance: 17.62644
Disclaimer:
The above opinions given constitute general market commentary, and d
Rand despite poor performance this week The rand has showed the Euro and Pound along the Dollar its mighty power. Despite the rand weakening this week, we have forecasted that bears might enter soon. The W pattern formation in the dollar might be a continuation of the M pattern. As the the dollar to the rand reached key support 17.4860 th
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The current rate of USDZAR is 17.34303 ZAR — it has increased by 0.18% in the past 24 hours. See more of USDZAR rate dynamics on the detailed chart.
The value of the USDZAR pair is quoted as 1 USD per x ZAR. For example, if the pair is trading at 1.50, it means it takes 1.5 ZAR to buy 1 USD.
The term volatility describes the risk related to the changes in an asset's value. USDZAR has the volatility rating of 0.47%. Track all currencies' changes with our live Forex Heatmap and prepare for markets volatility.
The USDZAR showed a 1.06% rise over the past week, the month change is a 0.21% rise, and over the last year it has decreased by −1.37%. Track live rate changes on the USDZAR chart.
Learn how you can make money on rate changes in numerous trading ideas created by our community.
Learn how you can make money on rate changes in numerous trading ideas created by our community.
Currencies are usually traded through forex brokers — choose the one that suits your needs and go ahead. You can trade USDZAR right from TradingView charts — just log in to you broker account. Check out the list of our integrated brokers and find the best one for your needs and strategy.
When deciding to buy or sell currency one should keep in mind many factors including current geopolitical situation, interest rates, and other. But before plunging into a deep research, you can start with USDZAR technical analysis. The technical rating for the pair is neutral today, but don't forget that markets can be very unstable, so don't stop here. According to our 1 week rating the USDZAR shows the sell signal, and 1 month rating is sell. See more of USDZAR technicals for a more comprehensive analysis.