News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Sterling continues to contract into trend extremes and the focus is on a pending breakout in the weeks ahead. Get your weekly $GBP technical forecast from @MBForex here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here:
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:
  • The update to the US Consumer Price Index (CPI) is likely to sway the US Dollar during the Federal Reserve’s blackout period as the central bank braces for a transitory rise in inflation. Get your weekly $USD forecast from @DavidJSong here:
USD/ZAR – US Dollar Price Action Remains Constructive vs SA Rand

USD/ZAR – US Dollar Price Action Remains Constructive vs SA Rand

Paul Robinson, Strategist

USD/ZAR Highlights:

  • USD/ZAR acting well after massive rally
  • Digestion phase may go on for a bit longer

USD/ZAR acting well after massive rally

The price action in USD/ZAR has some wondering whether it is weakening, perhaps even forming a double-top, or basing out after a long run and waiting for the next catalyst. At this time it is viewed as being in the latter camp, thus set up to ultimately seek higher ground at some point.

With that in mind, we could still see some back-and-forth choppiness that will offer no real directional cues. This would be a good thing, as overbought conditions built up into April are worked off through a time correction versus one that unfolds via a significant price setback.

Support doesn’t arrive until around 17.84/76, the April low and 2016 “super spike” high. A move down near this area could offer up a good risk/reward set-up for would-be longs, but ideally we see a higher-low carved out well before then. This would indicate an increased willingness by buyers to step in at higher levels.

With some time an eventual break above 19.34 should lead USD/ZAR well into the 20s. How high? Hard to say, it could be rather high given the way high beta emerging market currencies have been moving these days. For now though some patience is likely needed before seeing anything meaningful. Stay tuned.

USD/ZAR Daily Chart (digestion phase underway)

USD/ZAR daily chart

USD/ZAR Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.