{"id":7410,"date":"2021-04-30T07:57:00","date_gmt":"2021-04-30T06:57:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=7410"},"modified":"2021-04-30T17:05:08","modified_gmt":"2021-04-30T16:05:08","slug":"usdzar-technical-analysis-2020-trading-low-in-focus","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-2020-trading-low-in-focus\/","title":{"rendered":"USDZAR Technical Analysis &#8211; 2020 Trading Low In Focus"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"7410\" class=\"elementor elementor-7410\" 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-eb53e77 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eb53e77\" 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-a2c3782\" data-id=\"a2c3782\" 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-76beec7 elementor-widget elementor-widget-text-editor\" data-id=\"76beec7\" 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 is now approaching towards the 2020 trading low against the South African rand currency, after being trapped in an extended period of price consolidation prior to this week\u2019s Federal Open Market Committee rate decision.<\/p><p>Buyers are currently nowhere to be seen as the greenback comes back under pressure after the FOMC meeting and the South African rand currency remains one of the best performing emerging market currencies this year.<\/p><p><a href=\"https:\/\/bit.ly\/31OOn5E\" target=\"_blank\" rel=\"noopener\">HSBC bank<\/a> has recently put out an investment note stating why the South African Rand is currently so strong on the foreign exchange market, and indeed why it looks set for further gains ahead this year.<\/p><p>The bank start by saying that the strong terms of trade and external balancing is one contributing factor to the rand\u2019s ongoing strength. In terms of trade, exports are exceeding imports, which is always an economic positive.<\/p><p>Secondly, HSBC state that low inflationary pressure and prudent monetary policy from the South African Reserve Bank are also bullish. Contained inflation in emerging market economies is indeed a sign of stability.<\/p><p>And thirdly, sensitivity to positive global risk-on sentiment is helping the South African rand currency right now. This means that rising stock markets are typically bullish for the South African rand.<\/p><p>Fundamentals are clearly a big part of the <a href=\"https:\/\/bit.ly\/3sQDJqU\" target=\"_blank\" rel=\"noopener\">USDZAR<\/a> pair. Especially South African fundamentals, which appear to lead this pair at times, meaning that keep a close eye on the South African economy is very important for USDZAR traders.<\/p><p>Sentiment towards the USDZAR pair is providing a yellow flag. According to the ActivTrader Market Sentiment tool some 60 percent of traders are bullish towards the pair, despite ongoing weakness.<\/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-bba0380 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bba0380\" 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-1183656\" data-id=\"1183656\" 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-bf00ee2 elementor-widget elementor-widget-image\" data-id=\"bf00ee2\" 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=\"301\" height=\"109\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/usdzar-chart-1.png\" class=\"attachment-large size-large wp-image-7413\" 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-8fca59c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8fca59c\" 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-f32af0e\" data-id=\"f32af0e\" 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-380f628 elementor-widget elementor-widget-text-editor\" data-id=\"380f628\" 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>Typically, as long as traders remain on the wrong side of the market by 10 percent or more, then we should expect the decline to worsen. It will be interesting to watch traders\u2019 behavior is the USDZAR dips under the 14.00 handle.<\/p><p><strong>USDZAR Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the USDZAR pair has invalidated an inverted head and shoulders pattern, around the $14.40 level.<\/p><p>According to the overall size of the invalidated price pattern a $1.20 decline in the USDZAR pair should now be expected, which would place the $13.20 level as a potential bearish target.\u00a0Watch out for technical selling to increase if the 2020 trading low, around the $13.90 support level, is broken.<\/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-e50a171 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e50a171\" 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-69de29d\" data-id=\"69de29d\" 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-ebabbec elementor-widget elementor-widget-image\" data-id=\"ebabbec\" 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=\"342\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/USDZAR-4H-1.png\" class=\"attachment-large size-large wp-image-7415\" 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-f6be18b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f6be18b\" 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-e9b4894\" data-id=\"e9b4894\" 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-992bfd0 elementor-widget elementor-widget-text-editor\" data-id=\"992bfd0\" 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-e24b5ba elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e24b5ba\" 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-c6c6278\" data-id=\"c6c6278\" 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-2b6ff61 elementor-widget elementor-widget-text-editor\" data-id=\"2b6ff61\" 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 and weekly time frame, a major range breakout has taken place after the USDZAR moved away from the $14.40 to $15.50 price range.<\/p><p>According to the overall size of the range break, a directional move of $1.10, at a minimum, is on the horizon. Typically, when we see these types of range breakout then strong trending directional moves take hold.<\/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-e17c233 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e17c233\" 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-d1a7539\" data-id=\"d1a7539\" 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-d665dfc elementor-widget elementor-widget-image\" data-id=\"d665dfc\" 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=\"346\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/USDZAR-1D-1.png\" class=\"attachment-large size-large wp-image-7416\" 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-16ec52b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"16ec52b\" 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-08831f0\" data-id=\"08831f0\" 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-d30c2b9 elementor-widget elementor-widget-text-editor\" data-id=\"d30c2b9\" 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\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 is now approaching towards the 2020 trading low against the South African rand currency, after being trapped in an extended period of price consolidation prior to this week\u2019s Federal Open Market Committee rate decision. Buyers are currently nowhere to be seen as the greenback comes back under pressure after the FOMC meeting [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":7411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[69,403,226],"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 - 2020 Trading Low In Focus - 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-2020-trading-low-in-focus\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USDZAR Technical Analysis - 2020 Trading Low In Focus\" \/>\n<meta property=\"og:description\" content=\"The US dollar is now approaching towards the 2020 trading low against the South African rand currency, after being trapped in an extended period of price consolidation prior to this week\u2019s Federal Open Market Committee rate decision. Buyers are currently nowhere to be seen as the greenback comes back under pressure after the FOMC meeting [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-2020-trading-low-in-focus\/\" \/>\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=\"2021-04-30T06:57:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-30T16:05:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/04\/photo-1579940906882-2756c038d8d4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"634\" \/>\n\t<meta property=\"og:image:height\" content=\"357\" \/>\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=\"2 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-2020-trading-low-in-focus\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/usdzar-technical-analysis-2020-trading-low-in-focus\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"USDZAR Technical Analysis &#8211; 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