• USD/ZAR stays mildly bid, keeps upside break of 200-HMA, short-term key resistance.
  • Firmer RSI line suggests continuation of recovery moves.
  • Fibonacci retracement signals intermediate stops before the multi-month high flashed in November.

USD/ZAR pokes intraday high around $15.97, up 0.08% on a day heading into Monday’s European session.

The South African currency (ZAR) pair crossed a fortnight-old descending trend line, as well as the 200-HMA, the previous day but failed to cross the $16.10 hurdle of late.

Even so, the quote remains firmer past the stated key moving average and previous resistance line, around $15.90 by the press time. Given the steady RSI line favoring the latest rebound, the USD/ZAR can portray another attempt to cross the key Fibonacci retracement (Fibo.) levels of November 26 to December 08 declines.

Among them, the 50% and 61.8% Fibo. levels surrounding $16.00 and $16.10 are crucial before the quote can challenge November’s high of $16.36.

In a case where USD/ZAR bulls keep reins past $16.36, the mid-October peak close to $16.70 can offer an intermediate halt during the run-up to $17.00.

Meanwhile, a downside break of $15.90 support convergence will direct USD/ZAR bears towards the monthly low of $15.66.

However, the pair’s declines past $15.66 will be challenged by March 2021 tops near $15.58.

USD/ZAR: Hourly chart

Trend: Further upside expected

Additional important levels

Today last price 15.981
Today Daily Change 0.0074
Today Daily Change % 0.05%
Today daily open 15.9736
Daily SMA20 15.8502
Daily SMA50 15.3338
Daily SMA100 15.0137
Daily SMA200 14.6735
Previous Daily High 16.0912
Previous Daily Low 15.8696
Previous Weekly High 16.1001
Previous Weekly Low 15.6685
Previous Monthly High 16.3684
Previous Monthly Low 14.8632
Daily Fibonacci 38.2% 16.0066
Daily Fibonacci 61.8% 15.9543
Daily Pivot Point S1 15.865
Daily Pivot Point S2 15.7565
Daily Pivot Point S3 15.6433
Daily Pivot Point R1 16.0867
Daily Pivot Point R2 16.1998
Daily Pivot Point R3 16.3083



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content

Recommended content

Editors’ Picks

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD bulls seek a break of 0.6925 for 0.6950 target area

AUD/USD is consolidated at the start of the Asian day following some back and forth at the start of the week. The Aussie is trading at 0.6922 and will be dependent on the trajectory of the greenback in the absence of domestic data this week other than Retail Sales tomorrow. 


EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD retreats from fortnight high near 1.0600 on recession/inflation fears

EUR/USD holds onto the pullback from a two-week high as bulls get rejections from short-term key resistances, as well as risk-off mood, during Tuesday’s Asian session. The major currency pair remains pressured around 1.0585.


Gold sees downside below $1,820, focus shifts to Fed Powell

Gold sees downside below $1,820, focus shifts to Fed Powell

Gold price displayed a failed attempt to sustain above the critical resistance of $1,840.00 on Monday. The precious metal has turned sideways after a sheer downside move and is expected to extend its losses after violating the crucial support of $1,820.85.

Gold News

Terra’s LUNA price finally shows the buy signal you’ve been waiting for

Terra’s LUNA price finally shows the buy signal you’ve been waiting for

Terra’s LUNA price shows optimism to start the final week of June. The potential for a new bull run is beginning to materialize. LUNA price sees an uptick in social media commentary.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!