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
More View more
Real Time News
  • RT @BrendanFaganFx: 77 counterparties take $1.352 trillion at Fed's fixed-rate reverse repo $USD $DXY
  • EUR/USD attempts to halt a five day decline as the Federal Reserve sticks to the sidelines. Get your market update from @DavidJSong here:
  • US Markit Composite PMI for September fell to 54.5 from 55.4, whereby the services and manufacturing figures fell to 54.4 and 60.5 respectively, both missing analyst estimates. Get your market update from @JMcQueenFX here:
  • S&P 500, Nasdaq Rally After the Fed; 10 Year Yield to Two-Month-Highs
  • #Bitcoin Outlook: $BTCUSD Bounce From 40K, Fake-out or Shake-out? -
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
USD/ZAR Technical Outlook: Nearly Decade-long Trend-line Looks Like Next Stop

USD/ZAR Technical Outlook: Nearly Decade-long Trend-line Looks Like Next Stop

Paul Robinson, Strategist

USD/ZAR Highlights:

  • USD/ZAR continues lower following break of 2018 trend-line
  • Next up could be a trend-line from 2011, 2019 lows

USD/ZAR continues to sell off as the Dollar in general remains quite weak versus both developed and emerging market currencies. This looks to be the case for the foreseeable future, with the possibility of some type of reversal in Q1. More on that later.

For now, USD/ZAR breaking the 2018 trend-line in recent weeks is leading to a potential test of an even more important long-term threshold. There is a trend-line rising up from 2011 that is quite meaningful in the grand scheme of things.

It currently lies down in the vicinity of the 13.70s, where there is also price support from a pair of lows created in 2019 between 13.81 and 13.91. The confluence between the long-term trend-line and lows would make for a strong zone of support.

But before we get to that point there is still some trading to be done. At this time, the trend is a little extended in the short-term, which means we could see a corrective bounce develop. With that in mind, taking an approach that takes advantage of pullbacks may be the way to go.

USD/ZAR Weekly Chart (heading towards 2011 t-line, 2019 levels)

USD/ZAR weekly chart

USD/ZAR Daily Chart (may bounce before resuming lower)

USD/ZAR daily chart

USD/ZAR Charts 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.