USD/ZAR Price Analysis: Sellers attack 50-DMA, previous resistance near five-week low

USD/ZAR stays pressured around the lowest level since November 17, down for fourth consecutive day.
Bearish MACD signals, clear downside break of two-month-old previous support line favor sellers.
100-DMA, six-month-old ascending trend line lure bears, upside momentum remains elusive below $16.15.

Anil Panchal FXStreet

USD/ZAR remains on the back foot around a multi-day low, down 0.50% intraday close to $15.55 heading into Monday’s European session.

In doing so, the South African currency (ZAR) pair declines for the fourth consecutive day as the bears battle the resistance-turned-support and the 50-DMA level. Also favoring the pair sellers are the bearish MACD signals and failures to stay firmer beyond $16.00.

Even so, a daily closing below $15.54 becomes necessary for the USD/ZAR bears to extend the ruling towards September’s peak of $15.25.

Following that, the 100-DMA and upward sloping trend line from June, respectively around $15.15 and $14.80, will gain the market’s attention.

Should the quote bounce off $15.15-14 support confluence, the early December’s low near $15.66 the previous support line from October 20, close to $16.15, will challenge the USD/ZAR bulls.

In a case where the quote stays firmer beyond $16.16, the recently flashed multi-day high near $16.36 and the $17.00 round figure will be in focus.

USD/ZAR: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	15.5453
Today Daily Change	-0.0898
Today Daily Change %	-0.57%
Today daily open	15.6351

Trends
Daily SMA20	15.9065
Daily SMA50	15.524
Daily SMA100	15.1411
Daily SMA200	14.7185

Levels
Previous Daily High	15.8004
Previous Daily Low	15.4906
Previous Weekly High	15.9734
Previous Weekly Low	15.4906
Previous Monthly High	16.3684
Previous Monthly Low	14.8632
Daily Fibonacci 38.2%	15.6089
Daily Fibonacci 61.8%	15.6821
Daily Pivot Point S1	15.4837
Daily Pivot Point S2	15.3323
Daily Pivot Point S3	15.1739
Daily Pivot Point R1	15.7934
Daily Pivot Point R2	15.9518
Daily Pivot Point R3	16.1032

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD flat lines near 1.1800 as traders brace for US PPI release

The EUR/USD pair trades on a flat note near 1.1800 during the early Asian session on Friday. The pair steadies as softer Eurozone inflation offsets US tariff uncertainties. Traders await the preliminary reading of the Consumer Price Index from Germany on Friday for more clues about the pace of future policy easing. On the US front, the Producer Price Index report will be released.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold remains below $5,200 despite tariff jitters and geopolitical risks

Gold is seen consolidating in a range below the $5,200 mark during the Asian session on Friday amid mixed cues. Trade jitters, along with the risk of a potential US-Iran war, act as a tailwind for the safe-haven bullion. Meanwhile, the Fed's hawkish outlook keeps the US Dollar close to the monthly high and caps the non-yielding yellow metal. Nevertheless, the commodity remains on track to register gains for the fourth straight week, though the fundamental backdrop warrants some caution for bullish traders.