USD/ZAR forecast for today by Traders Union analysts
The U.S. dollar to South African rand is a popular exotic pair in the Forex market. The quote shows the price of one U.S. dollar (base currency) in South African rands (quoted currency). The U.S. dollar price is influenced by major political events and oil prices, while ZAR is influenced by gold prices (it is considered a commodity currency).
Although USD/ZAR is an exotic pair, it is considered one of the most converted ones. When trading USD/ZAR, it is important to take into consideration other important currency pairs (EUR/USD, USD/JPY, and GBP/USD). They act as indicators of the USD/ZAR price performance.
Taking into account the high volatility of the pair, it is recommended for advanced traders who are prepared for frequent fluctuations on the price chart within a day. Technical analysis by TU analysts should be taken into consideration, as it helps make informed decisions and earn a profit.
USD/ZAR is being sold off
26.04.2024
The recovery in gold prices and the rise in the South African Producer Price Index are driving demand for the South African rand, amid which the U.S. dollar, after breaking 19.05 support, has fallen to the 18.85 level at the moment. The release of a weak U.S. Consumer Price Index could further lower the U.S. dollar toward 18.80-18.75. A strong index could lead to a rebound toward 18.95-19.00.
USD/ZAR failed to break 19.25 resistance, bears are testing 19.00 support
25.04.2024
The breakout by U.S. dollar bulls above 19.10 resistance allowed them to test 19.25 resistance against the South African rand, but here the U.S. dollar faced pressure again, falling to 19.00 support. Pullbacks to the downside can still be used for buying. The loss of current support would lead to a decline toward 18.90.
USD/ZAR is under selling pressure
24.04.2024
The recovery in gold prices and weak U.S. manufacturing PMI contributed to the decline of the U.S. dollar against the South African rand, in this case from 19.25 resistance to 19.06 support. However, U.S. dollar bulls may attempt to break to 19.25 again. The loss of support will lead to a decline toward 19.00-18.95.
USD/ZAR moves higher
23.04.2024
Gold is losing value, which negatively affected the dynamics of the South African rand and contributed to the rise of the U.S. dollar toward 19.25 resistance in the pair. At current levels, bears are trying to take the initiative and return the pair to 19.15 support, but there are no reasons for significant selling at the moment. A rebound of gold from the current levels upward may contribute to the U.S. dollar’s decline to the above-mentioned support. Breaking resistance will lead to a growth toward 19.30-19.35.
USD/ZAR remains under pressure
22.04.2024
Due to sell-offs from the level of 19.37, the U.S. dollar dipped to 19.05 support in tandem with South African rand, following which, despite the decline in gold prices, it remains under pressure, risking to lose support and fall to support at 19.00-18.95. However, the descent can still be capitalized on for buying, so bears should exercise utmost caution.
USD/ZAR tests strong resistance
19.04.2024
Buy of the U.S. dollar against the South African rand from support 18.93 led to the breakout of resistance at 19.10 and the dollar's rise to the level of 19.37, where bears, taking advantage of the proximity of strong resistance, are trying to regain control of the situation. Pullbacks downward can still be used for buying and testing resistance at 19.37. Loss of support at 19.15 will lead to a decline toward 19.05-19.00.CHF bought on decline.
US dollar/South African rand trades in a range
18.04.2024
The U.S. dollar continues to be brought against the South African rand from support 18.95-18.92, but current attempts at growth are limited by resistance at 19.05. However, the dollar's outlook remains constructive, bulls may break the current resistance and test the level at 19.10. Loss of support will lead to a decline toward 18.90-18.85.
USD/ZAR under pressure after unsuccessful attempts to break resistance
17.04.2024
Attempts by the U.S. dollar bulls to break the resistance level of 19.10 in the pair with the South African rand were unsuccessful, and the U.S. dollar, while being under pressure as a result of profits locked on long positions, dropped to the support level of 18.95. The U.S. dollar could be bought from the level of 18.95-18.90, but if the gold price continues to rise, this support level could be broken and the price could decline toward 18.85-18.80.
USD/ZAR moves higher
16.04.2024
After a pullback to the support at 18.80, the USD continued to rise against the South African Rand, but the bulls failed to break the resistance at 19.10, which led to a pullback to the support at 18.95. Nevertheless, the bulls may continue to try to break the resistance; a loss of 18.95 support will lead to a decline towards 18.85.
USD/ZAR continued its recovery
15.04.2024
The USD/ZAR pullback to support at 18.66 was able to attract buying interest, which was enough to break resistance at 18.80-18.83 and test 18.97, followed by a pullback to support at 18.82. In the near term, pullbacks can be used to buy and test 18.90-18.95. A break of Friday's high will allow bulls to test 19.00-19.95; loss of current support will lead to a decline towards 18.75.
USD/ZAR under moderate pressure
12.04.2024
The USD is under pressure from the South African rand amid the ongoing rise in gold prices, but the support around 18.68 is doing well, which keeps the chances of breaking the resistance at 18.80 and rising towards 18.85-19.00; loss of support will lead to a decline towards 18.55.
USD/ZAR continues to sell
10.04.2024
On the back of continued demand for the South African rand, which continues to be supported by rising gold prices, the USD broke support near 18.55 and declined towards support near the 18.42 level in tandem with it. Near-term resistance now lies around the 18.50 level, below which risks of a break of support and a decline towards 18.40-18.35 prevail; a break of resistance would lead to a rise towards 18.55-18.60. Gold correction risks are rising, with them usd/zar correction risks.
USD/ZAR continues to decline
09.04.2024
The South African rand continues to receive support from rising gold prices, and the US dollar is once again declining in tandem with it. Yesterday, it was sold from resistance at around 18.74, which led to a decline to support at 18.55, which the bears are testing again after a pullback to resistance at 18.65. Risks of breaking it and testing 18.50 support have increased significantly, but the dollar's decline can still be used for buying, so bears should be cautious.
USD/ZAR sold off on the upside
08.04.2024
The US dollar's rise against the South African rand was limited by the resistance at 18.75. After testing it, it declined to the support at 18.57. The nearest resistance is now at 18.70, which keeps the risks of another test of the above support; a break of the resistance will lead to a rise towards 18.75. A further rise in gold prices may support the rand.
USD/ZAR continues to sell on growth attempts
05.04.2024
The decline of the US dollar against the South African rand was halted by buying interest from the 18.58 level, against which the dollar rose to the 18.75 resistance, but gold is rising in price again and the dollar returned to support. Weak data on the US labor market may contribute to its breakdown and decline towards 18.55-18.50; on strong data again growth towards 18.75 is possible.
USD/ZAR is approaching strong support
04.04.2024
The steady rise in gold prices is helping to keep pressure on the US Dollar paired with the South African Rand. It's selling from the 18.85 level led to a break of the 18.75 support and a decline towards 18.59. Downside risks to the support around 18.55-18.50 levels prevail at the moment, but on the approach to these levels, the activation of bulls is possible.
USD/ZAR remains under pressure
03.04.2024
Rising gold prices continue to keep the demand for the South African rand alive, and the USD/ZAR, remaining under pressure, has declined to support at 18.75 at the moment. There is no reason for the USD to sell off yet, so it could be bought back on the downside; a loss of current support would lead to a decline towards 18.70-18.65.
USD/ZAR declines after an unsuccessful attempt at a rise
02.04.2024
The US dollar was again bought for the South African rand yesterday from the support around 18.80 and the bulls tested the resistance at 19.00, but the rise in gold prices contributed to the resumption of rand purchases, on the background of which the dollar returned to the above-mentioned support. Its breakdown will lead to a decline in the direction of 18.75-18.00, but on the decline again possible purchases of the pair.
USD/ZAR declines
01.04.2024
The rise in gold prices contributed to some demand for the South African rand, against which the US dollar declined to support around 18.80 in pairing with it. Nevertheless, there is no reason for a large-scale sell-off of the dollar at the moment, so its decline can be used for buying. Losing support will lead to a decline towards 18.75-18.70; passing the 18.90 resistance will provide growth towards 18.95-19.00.
USD/ZAR sold off from 19.00
29.03.2024
Breaking through the resistance around 19.00, the USD bulls tested the 19.10 level yesterday in the pair with the South African Rand but was sold here, which brought it back to the 18.88 support. A rise in the US PCE could help strengthen the dollar towards 19.00; a decline in the index could be a reason to sell and push the pair lower towards 18.80.
USD/ZAR tested 19.10
28.03.2024
The South African central bank left the interest rate level unchanged, which was fully in line with analysts' forecasts, so the reaction of market participants was rather sluggish. The US dollar was bought for the South African rand on the decline to support around 18.85, and the bulls, having broken the resistance around 19.00, tested the resistance at 19.10. On pullbacks to 19.00, the demand may persist, and with it, the upside potential towards 19.15; loss of this support will lead to a decline towards 18.90-18.85.
USD/ZAR awaiting the South African Central Bank's rate decision
27.03.2024
Being in a state of uncertainty, the US dollar in pair with the South African rand is in a consolidation phase, within which the pair fluctuates within the range between the support at 18.85 and resistance at 19.00. Today the Central Bank of South Africa will announce a decision on the interest rate level, the reaction to which is difficult to predict, so it is better to stay out of the market for now.
USD/ZAR under moderate pressure
26.03.2024
Against the South African rand, the USD sold off from resistance around 19.05, which led it down towards support at 18.85. Dollar pullbacks can be used to buy and test 18.95-19.00; loss of support will lead to a decline towards 18.75-18.70. The dynamics of the pair may be affected by the dynamics of gold and tomorrow, the Central Bank of South Africa will announce a decision on the level of interest rate, which may also affect the dynamics of the rand.
USD/ZAR is in demand
25.03.2024
For the South African rand, the USD was bought back again, this time from support around 18.80, and the bulls tested resistance at 19.05. On pullbacks to support at 18.90, the USD continues to be bought back, which keeps the chances of breaking resistance and rising towards 19.10-19.15; loss of support will lead to a decline towards 18.85. Published this week, macroeconomic statistics on South Africa may impact the rand dynamics.
USD/ZAR moves higher
22.03.2024
For the South African rand, the US dollar was bought from the support around 18.65, and the bulls, having overcome the resistance at 18.95, are currently trying to break the resistance around 19.05. The nearest target for the bulls may be the resistance at 19.10, but the bears may become active on the way to this level. On pullbacks in the direction of 18.95-18.90, the dollar can be bought out; loss of the last level will lead to a decline of 18.85-18.80.
USD/ZAR tries to develop recovery after the fall
21.03.2024
The US dollar did not escape the sell-off against the South African rand, which was facilitated by both the "soft" comments of the US Fed and the growth of gold prices. Thus, the dollar, having broken the support at 18.88, declined to the support at 18.65, but at the moment, the bulls are trying to break the resistance at 18.75, which will lead to the recovery of the pair towards 18.85; the loss of 18.70 will increase the risks of breaking the support and decline towards 18.60.
USD/ZAR retreats from yesterday's highs
20.03.2024
In the pairing with the South African rand, the USD tested the resistance at 19.02 yesterday, after which, under pressure, it declined to support at 18.88. From there, it may try to test resistance again; a loss of support will lead to a decline towards 18.80. The US Fed's decision and/or Jerome Powell's comments may affect the pair's dynamics.
USD/ZAR continues to recover
19.03.2024
After breaking through the resistance at 18.78, the US dollar grew against the South African rand and tested the resistance at 19.00. On Wednesday, there will be two events that may affect the pair dynamics - the publication of inflation data on South Africa and the announcement of the interest rate decision by the Federal Reserve. Before these events, significant changes in the situation are unlikely.
USD/ZAR is trying to continue rising
18.03.2024
In the pair with the South African rand, the US dollar is trading at the resistance around 18.77, and its pullbacks are limited by the support around 18.65, above which there is a potential to break the resistance and rise towards 18.85-19.00. South African inflation data published this week may affect the pair's dynamics.
USD/ZAR under pressure after rising
15.03.2024
Accelerating spot price inflation in the US attracted buying interest for the USD against the South African rand. After breaking through the resistance at 18.65, it rose to the resistance at 18.75, which contained the bulls' onslaught. The bears are currently testing the support at 18.67. On pullbacks, the dollar may be bought back with further testing of 18.75-18.80; loss of support will lead to a decline towards 18.60-18.55.
USD ZAR Chart
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How is the USD/ZAR forecast made?
Considering that the USD/ZAR chart is not ‘calm’ during the day, it is necessary to take into account the forecast, analytics, and expert advice. TU experts use various methods of technical analysis, including patterns, chart figures, support, and resistance levels and indicators for making their price forecast.
The limited nature of the latest data on the South African economy and also lack of predictability of its national currency using the means of fundamental analysis force investors to make decisions based on technical analysis (this particularly applies to day trading strategies). The peak of trading activity for the USD/ZAR currency pair falls during the U.S. trading session. Due to relatively low liquidity, the spreads are high, but they are compensated by high volatility even for scalping.
FAQ
1
How do I trade USD/ZAR?
Trading the USD/ZAR currency pair requires rather substantial capital, as a large part of the amount will be used as a financial cushion (considering the long Stop-Loss orders). If a trader sets short Stop-Loss orders, he risks his promising positions being continuously closed due to rate fluctuations, which happens rather often.
2
What factors influence the USD/ZAR price?
The USD/ZAR exchange rate is influenced by many factors, including commodity prices, foreign policy, economic growth indicators, trade balances of countries, and discount rates of central banks.
3
When is the peak of trading activity for USD/ZAR?
The peak of trading activity for the USD/ZAR currency pair falls during the U.S. trading session when considerable
volatility and rather high spreads are observed.
4
Who can trade USD/ZAR?
Trading USD/ZAR is more suitable for advanced traders with large capital, which is used as a financial cushion for working with long Stop-Loss orders. It is important to be able to work with
technical analysis, interpret the forecasts of analysts correctly and observe the rules of risk management in order to be able to build a clear strategy.