{"id":14647,"date":"2021-09-02T07:08:00","date_gmt":"2021-09-02T06:08:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=14647"},"modified":"2021-09-02T21:47:27","modified_gmt":"2021-09-02T20:47:27","slug":"usdzar-technical-analysis-no-sign-of-a-price-floor-yet","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-no-sign-of-a-price-floor-yet\/","title":{"rendered":"USDZAR Technical Analysis &#8211; No sign of a price floor yet"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14647\" class=\"elementor elementor-14647\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c07e2b0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c07e2b0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b93e18d\" data-id=\"b93e18d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-93b795d elementor-widget elementor-widget-text-editor\" data-id=\"93b795d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The US dollar has been correcting lower against the South African rand currency, due to Federal Open Market Committee Chair Powell failing to announce tapering at Jackson Hole and commodity prices rising once again.<\/p><p>Due to a substantial increase in COVID-19 cases in South Africa, plus country wide riots and looting, the South African rand has been under pressure against most major currencies on the foreign exchange market.<\/p><p>Slowing growth in China has also been weighing on the rand. China, a major buyer of commodity buyer in South Africa, has recently seen manufacturing data turning negative, further hinting that the world\u2019s second-largest economy is slowing<\/p><p>Contained inflation in South Africa, coupled with rising jobless data and weak domestic economic data could also be pointing to further instability for the South African economy. This could spell further <a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\" rel=\"noopener\">USDZAR<\/a> strength.<\/p><p>Fundamentals are clearly a big part of the USDZAR pair. Especially South African fundamentals, which appear to be worsening, meaning that keeping a close eye on the South African economy is very important for USDZAR traders this month.<\/p><p>Sentiment towards the USDZAR pair is providing a minor yellow flag. According to the ActivTrader Market Sentiment tool some 77 percent of traders are bearish towards the pair, amidst the latest correction.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-83ebb0c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"83ebb0c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-67dfb22\" data-id=\"67dfb22\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-48d0835 elementor-widget elementor-widget-image\" data-id=\"48d0835\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"297\" height=\"114\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/usdzar-chart.png\" class=\"attachment-large size-large wp-image-14651\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b6682e2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b6682e2\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-668fb42\" data-id=\"668fb42\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f2a51e4 elementor-widget elementor-widget-text-editor\" data-id=\"f2a51e4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The growing bearish bias is probably a plus for the USDZAR pair, meaning that the correction may be nearing an end. The current sentiment dynamics certainly hint that the USDZAR pair is in the sweet spot for a reversal.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p><p><strong>USDZAR Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the USDZAR pair has formed significant amounts of negative MACD price divergence during its recent price pullback from the $15.40 price pullback.<\/p><p>Looking more closely at exactly where the divergence started it appears that the $15.00 area is the main area, so over the short-term we could see a rise back towards this key area.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-883d39f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"883d39f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cca765c\" data-id=\"cca765c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6ab96de elementor-widget elementor-widget-image\" data-id=\"6ab96de\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"344\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/usdzar-4h.png\" class=\"attachment-large size-large wp-image-14653\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-213b57cd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"213b57cd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-46c24b02\" data-id=\"46c24b02\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-24ba8253 elementor-widget elementor-widget-text-editor\" data-id=\"24ba8253\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0c84d92 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0c84d92\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6bc5dcb\" data-id=\"6bc5dcb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0f0f04d elementor-widget elementor-widget-text-editor\" data-id=\"0f0f04d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>USDZAR Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time frame, a large complex head and shoulders pattern appears to be forming, with the pattern taking some time to unfold as the $13.00 to $16.00 price range remains prevalent.<\/p><p>Due to the existence of this large bearish pattern the medium-term picture is negative, so it is probably best looking to fade rallies towards the top of the mentioned price range.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3216532 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3216532\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bc2c58d\" data-id=\"bc2c58d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f119b0f elementor-widget elementor-widget-image\" data-id=\"f119b0f\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"339\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/usdzar-1d.png\" class=\"attachment-large size-large wp-image-14654\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-16207839 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16207839\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-17991bbd\" data-id=\"17991bbd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5ffc91ce elementor-widget elementor-widget-text-editor\" data-id=\"5ffc91ce\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a>\u00a0provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The US dollar has been correcting lower against the South African rand currency, due to Federal Open Market Committee Chair Powell failing to announce tapering at Jackson Hole and commodity prices rising once again. Due to a substantial increase in COVID-19 cases in South Africa, plus country wide riots and looting, the South African rand [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":14649,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[45,69,226],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDZAR Technical Analysis - No sign of a price floor yet - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-no-sign-of-a-price-floor-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDZAR Technical Analysis - No sign of a price floor yet\" \/>\n<meta property=\"og:description\" content=\"The US dollar has been correcting lower against the South African rand currency, due to Federal Open Market Committee Chair Powell failing to announce tapering at Jackson Hole and commodity prices rising once again. Due to a substantial increase in COVID-19 cases in South Africa, plus country wide riots and looting, the South African rand [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-no-sign-of-a-price-floor-yet\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-02T06:08:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-02T20:47:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/09\/GettyImages-1173529605.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"316\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-no-sign-of-a-price-floor-yet\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-no-sign-of-a-price-floor-yet\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDZAR Technical Analysis &#8211; 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