Quotes

CFD Trading Rate US Dollar vs South African Rand (USDZAR)

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Change (%)
Date/Time (GMT 0)
Over the past 10 days
Date Rate Change

Related news

  • 25.03.2024 15:40
    USD/ZAR: 19.25/19.38 is crucial hurdle – SocGen

    USD/ZAR is approaching hurdle of 19.25/19.38. Economists at Société Générale analyze the pair’s technical outlook.

    Stuck in a triangle

    USD/ZAR has evolved within a large symmetrical triangle since June last year and recently tested the lower limit near 18.50 which is also the trough of February. An initial rebound has happened, but the pattern denotes lack of clear direction.  

    Current bands of the formation near 18.50 and 19.25/19.38 are key levels. Move beyond one of these limits is essential for confirming a directional move.

     

  • 21.02.2024 08:48
    USD/ZAR: Rand could be running into a lot of trouble over the next month – ING

    For a highly volatile FX pair, USD/ZAR has been exceptionally quiet. Economists at ING analyze the pair’s outlook ahead of the South African annual budget.

    Rand in focus on pre-election budget

    The challenge for South Africa's Finance Minister Enoch Godongwana will be seeking out pre-election giveaways while continuing to show that South Africa's debt-to-GDP trajectory will be stabilising at around 78% in 2025/26. That will be a challenging task given weak growth. And perhaps the biggest focus for FX markets will be whether the government decides to tap into the South African Reserve Bank's contingency fund for government spending plans. That would be a very bad look and probably trigger a strong upside break-out in USD/ZAR.

    A USD/ZAR close above its 20-day Bollinger Band at 19.14 today (Bollinger bands are used as a tool in technical analysis to pinpoint breakouts from low volatility regimes) suggests the Rand could be running into a lot of trouble over the next month.

     

  • 08.01.2024 11:44
    USD/ZAR: At risk of deeper down move on a dip below 18.10 – SocGen

    Economists at Société Générale analyze USD/ZAR technical outlook.

    Short-term bounce towards 19.14 and October high of 19.50/19.64 on the cards

    USD/ZAR recently defended low of November near 18.10 and the trend line drawn since April 2022. A gradual rebound has taken shape, but crisscross moves around the flattish 200-DMA denote lack of clear direction.

    Short-term bounce towards 19.14 and October high of 19.50/19.64 can’t be ruled out. This is a crucial resistance zone.

    In case the pair dips below lower band of recent range at 18.10, there could be risk of a deeper down move.

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