ZARUSD closes -0.52% lower at 0.0576


South African Rand/US Dollar (ZARUSD) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Overview

ZARUSD finished the month 1.05% higher at 0.0576 after losing 3 pips (-0.52%) today.

Daily Candlestick Chart (ZARUSD as at Jun 30, 2020):

Daily technical analysis candlestick chart for South African Rand/US Dollar (ZARUSD) as at Jun 30, 2020

Tuesday's trading range has been 6 pips (1.04%), that's below the last trading month's daily average range of 10 pips. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently lower than usual for ZARUSD.

Prices are trading close to the key technical support level at 0.0570 (S1).

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend still being bullish.

Selling could speed up should prices move below the nearby swing low at 0.0570 where further sell stops might get activated. As prices are trading close to June's low at 0.0568, downside momentum could accelerate should the FX pair mark new lows for the month.


Market Conditions for ZARUSD as at Jun 30, 2020

Loading Market Conditions for ZARUSD (South African Rand/US Dollar)...
Looking for USDZAR instead? Click here
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when South African Rand/US Dollar traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!