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 approaching strong support
16.05.2024
In the pair with the South African rand, the U.S. dollar continues to decline, resulting in a breakout of 18.30 support and a test of 18.20 support. The outlook for the pair appears pessimistic, yet it is nearing a robust support level, suggesting the potential for a rebound. Breaking 18.25 will lead to a growth toward 18.30-18.40.
USD/ZAR is trying to hold above 18.33
15.05.2024
The U.S. dollar still faces selling pressure against the South African rand, but 18.33 support continues to hold back bearish pressure, and bulls are currently testing 18.40 local resistance. Rising inflation in the U.S. could trigger a growth toward 18.45-18.50. In the case of inflation slowdown, testing 18.30 support is possible.
USD/ZAR is sold on the rise
14.05.2024
The U.S. dollar's drop against the South African rand yesterday paused as buyers showed interest at the 18.30 level. Despite South Africa's weak unemployment figures, the dollar climbed to 18.47. However, investors are cautious about buying the U.S. dollar before the release of the U.S. Producer Price Index and Federal Reserve Chair Jerome Powell's speech. Powell's bullish comments or robust data could trigger a rise, but otherwise, bears might test the 18.30-18.25 range.
USD/ZAR continues to decline
13.05.2024
Despite political uncertainty preceding South Africa's elections at the end of the month, the South African rand maintains its appeal, with the U.S. dollar persistently weakening against it. Due to the ongoing decline, it is currently testing 18.35 support, and the next 18.30 support may be tested, with the possibility of bull activation still present on the way to it. Breaking the 18.40 resistance will lead to a growth toward 18.45-18.50.
USD/ZAR risks breaking support and continuing to decline
10.05.2024
Increasing gold prices help sustain the demand for the South African rand, preventing the U.S. dollar from surpassing 18.50 resistance. Bears are now attempting to break 18.40 support. The risks of its breakout and decline toward 18.35-18.30 prevail, but the decline of the U.S. dollar can still be used for buying.
USD/ZAR failed to continue its recovery
09.05.2024
Following the recovery, the U.S. dollar broke 18.55 resistance and tested 18.65 resistance against the South African rand, but is now trading below 18.55 again. Opportunities to buy may occur when prices fall and 18.65 resistance is tested. Losing 18.50 support will lead to a decline toward 18.45-18.40, where bullish activity may also occur.
USD/ZAR maintains a positive outlook
08.05.2024
Finding 18.45 support, the U.S. dollar continues to recover against the South African rand. The breakout of 18.55 resistance has led to its rise to the 18.61 level at the moment, but bulls have not been able to break it immediately. Nevertheless, there is still potential for a growth toward 18.65-18.70 above 18.55. The loss of support will lead to a decline toward 18.50-18.45.
USD/ZAR trying to establish above current lows
07.05.2024
Sales of the US dollar for the South African rand led to its decline from 18.54 resistance to 18.38 support. After testing the support level, the U.S. dollar rebounded today to the resistance level, where selling pressure persists. However, above 18.44, the chances of another test and breakout of resistance will remain. Losing this support will increase the risks of breaking 18.40-18.38 and declining toward 18.35-18.30.
USD/ZAR retests 18.50 support
03.05.2024
Enhanced manufacturing operations and higher car purchases in South Africa boost interest in the South African rand, leading to the selling of the U.S. dollar as it approaches 18.70 resistance. Bears are once again testing 18.50 support, raising the likelihood of it breaking and falling to 18.45-18.40. Strong U.S. labor market data may lead to a growth toward 18.65-18.70.
USD/ZAR is recovering after a decline
02.05.2024
The South African rand is still in demand, and because of that, the U.S. dollar kept dropping, testing 18.50 support against it. At the moment, it managed to rebound to 18.65 resistance. Failure by the bulls to break it could return the U.S. dollar to 18.60-18.55 support, where it could be bought again. Breaking resistance will lead to a growth toward 18.70-18.75.
USD/ZAR is declining after recovery
01.05.2024
The recovery of the U.S. dollar against the South African rand was limited by the 18.83 resistance level. Selling from this level brought the pair down to 18.65 support now, but the current drop might be a chance for buying and testing at 18.75-18.80. The loss of 18.60 will lead to a decline toward 18.55-18.50.
USD/ZAR rebounds after a decline
30.04.2024
Breaking 18.73 support, the U.S. dollar continued its decline against the South African rand yesterday, leading to a test of the level at 18.60. Demand stemming from this level fosters the dollar's resurgence and its endeavors to surpass 18.73 resistance, potentially resulting in a growth toward 18.80-18.85. The loss of 18.60 support would increase the risks of testing and breaking the 18.60 support. Currently, there are no discernible grounds for the rand to ascend.
USD/ZAR continues decline
29.04.2024
Despite the rise in the U.S. Dollar Index and the inflation decrease in South Africa, the U.S. dollar remains under pressure from the South African rand, breaking 18.93 support and testing the level of 18.69 at the moment. However, this decline in the U.S. dollar can still be used for buying and testing of 18.85-19.00. Breaking the current support will lead to a decline toward 18.65-18.60, where the U.S. dollar may be bought back.
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 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.