Dollar to Rand Forecast for Today, Tomorrow, This Week (USD/ZAR)

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Start Trading USD/ZAR
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eToro - Best Broker to Trade USD/ZAR

USD/ZAR is considered an exotic pair. It is characterized by a wide spread of several pips, which can suddenly expand, high volatility and low liquidity. The average daily price change is 1.3-1.6% (for comparison, the EUR/USD pair has 0.8-1.1%). The best trading time is the European and the American sessions.

1

Recommendation for USD/ZAR on the 15M timeframe is Strong Sell.

2

Recommendation for USD/ZAR on the 1H timeframe is Strong Sell.

3

Recommendation for USD/ZAR on the 1D timeframe is Buy.

Since 2012, the USD/ZAR has been showing a clear upward trend, which means that the rand has been becoming cheaper against the US dollar. Strengthening of the South African currency was registered in the periods of 2016-2018, and from 2020 until the middle of 2021. However, overall, the upward trend continues, with the price gradually coming close to an all-time high registered in April 2020. Will the upward trend continue and can you make money on it?


In our article, you will be able to learn the latest price forecasts and signals on the USD/ZAR currency exchange rate for 1 hour-1 week. USD/ZAR forecasts and signals are based on the technical analysis indicators.

NOTE!

On this page, you will find the latest information about current prices, updated and new forecasts for short and long-term intervals:

  • Asset quotes are updated every minute.
  • Price chart is updated every minute.
  • Technical indicator data is updated according to the time frame. For example, on M5, the data is updated every 5 minutes.
  • Medium and long-term forecasts are updated every hour.

USD/ZAR forecast for 1 day, 1 week, 1 month

USD/ZAR forecast by TU is prepared automatically on the basis of technical analysis of moving averages and indicators for each timeframe (interval) separately. Select the timeframe you need to find out USD/ZAR price prediction for today.

NOTE!

Signals may differ on different timeframes. If you want to hold the USD/ZAR for longer than 1 week/1 month, it is best to use the signals on daily and weekly timeframes. Timeframes from 5 minutes to 1 hour are best suitable for short-term transactions.

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Best Broker Recommended for Trading USD/ZAR

Suitable for those who want to earn a profit from price fluctuations.

BUY TO HOLD
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Best Broker Recommended for Holding USD/ZAR

Suitable for those who want to invest for the long term.

Indicator Based Technical Analysis of USD/ZAR

To find a better entry point, also find out what TradingView technical analysis tool signals for the US Dollar to Rand currency exchange rate. "Sell" or "Strong Sell" means that most of the signals are bearish. "Buy" or "Strong Buy" means that most of the signals are bullish. For short-term signals, it is recommended to use settings from 15 minutes to 2 hours. For long-term signals, it is recommended to use settings from 4 hours to 1 week.

USD/ZAR Chart Online

What Influences USD/ZAR Long-term Price Forecast

South Africa is a resource-rich country, with its economy strongly dependent on the prices of raw materials: diamonds, gold, coal, metal ores. This is one of the key factors that impact the rand price in the long term. The main factor is the statistical data and the U.S. monetary policy that determines the price of USD not only against ZAR, but also other currencies. Economic statistics of South Africa appear rarely (information on the trade balance, discount rate, consumer price index), which is why when you are building your trading strategy, taking into consideration the U.S. statistics: changes in the discount rate, inflation, sectoral indices, etc.).

Latest exchange rates online

Price prediction methodology

The following tools and instruments were used for making the prediction:


Basic instruments of technical analysis. The forecast relies on basic technical indicators. The analysis was performed mostly on medium and long-term time frames for more accurate results.

Chart analysis. Analysis comprises a review of key levels of support, resistance, trend lines, as well as patterns formed on different time frames.

Statistical tools help evaluate a probability of a fundamental factor that could impact the price, its nature and intensity of impact.

Methods of mathematical and statistical analysis; modeling, adaptive forecasting methods.

Expert opinions and consensus forecast.

NOTE!

This forecast is based on current information and data of previous periods. Emergence of strong fundamental factors capable of radically changing the overall market trend and subsequent price trend is possible. The forecasts are updated regularly based on the latest data.

This article is created for informational purposes only and does not constitute investment advice. Be aware of the high volatility of cryptocurrencies and consider these risks when making investment decisions.

FAQs

Is the USD/ZAR pair suitable for novice traders?

It is not suitable for several reasons:

  • Wide spread and slippages due to low liquidity.
  • Strong influence of fundamental factors. Little information and statistics about the economy of South Africa. The currency pair is not considered a popular one, which is why online analytical portals do not focus on it. Traders either get information with a delay or are forced to look for information in primary sources.

For beginners, the USD/ZAR pair may be used for a practice run to gain experience, where you can learn to see the difference in the behavior of the price of different assets.

What are the best strategies for trading USD/ZAR?

Strategy options:

  • Long-term trend position trading. Instruments: trend indicators and patterns.
  • Fundamental analysis trading, for example, analysis of commodity statistics, demand for raw materials and commodity prices.
  • Carry trade, which involves earning money on the difference of interest rates. This strategy works only if certain conditions are met.

Channel strategies work for day trading.

What are the risks of trading USD/ZAR?

Low liquidity and manual control of the price. The consequence of low liquidity is the absence of a counterparty to the transaction, which also causes gaps. Stop-Loss orders do not guarantee protection of the deposit against losses. Absence of market pricing reduces the effectiveness of the price prediction instruments. A trade is not protected against the Central Bank setting the rate it sees fit. Despite that the exchange rate is formed based on the demand/supply, it largely depends on the policy of the Central Bank of South Africa.

What kind of RSA statistics could influence the USD/ZAR price?

Statistics on the South Africa economy are released rarely. The key reports and indicators are the discount rate, consumer price index, trade balance, index of procurement managers in the manufacturing sector of South Africa from Absa and Markit.