Today's CNY to ZAR Price Update

Summary

This report provides the real-time exchange rate between the Chinese Yuan (CNY) and South African Rand (ZAR), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The Chinese Yuan (CNY) is one of the world’s major fiat currencies and a key player in global trade and finance, while the South African Rand (ZAR) represents the currency of Africa’s largest economy. The exchange rate between them reflects market sentiment regarding the relative strength of these two emerging market currencies.

Today’s Price

• 1 CNY = 2.31 ZAR
• 24h High: 2.3184 ZAR
• 24h Low: 2.3074 ZAR

Market Analysis

Recent CNY/ZAR price movement shows a bearish technical outlook, with multiple sell signals dominating the technical landscape.

• Technical levels: The 5-day moving average stands at 2.3103, while the 50-day moving average is at 2.3275. Key support level identified at Fibonacci pivot point of 2.2984 ZAR
• Technical indicators: Moving averages show a Strong Sell outlook with 11 Sell signals versus 1 Buy signal. RSI(14) at 43.942 indicates Sell conditions, with MACD at -0.006 also suggesting downward pressure
• Risk note: The pair exhibits strong selling pressure across multiple timeframes, indicating potential for further downside movement
• Trading opportunities: Monitor the Fibonacci pivot support at 2.2984 ZAR for potential bounce opportunities; watch for resistance around the 50-day moving average at 2.3275 ZAR

Conclusion

Continue to monitor the CNY/ZAR pair closely, integrating technical indicators and pivot point levels with broader market sentiment. The prevailing bearish technical setup suggests caution for long positions, while short-term traders should focus on key support and resistance levels for tactical opportunities.