Free-market US Dollar (USD/IRR) Reaches New 30-Day High Amid Strong Upward Momentum
The Free-market US Dollar (USD/IRR) experienced a notable gain on August 29, 2026, closing higher after reaching a new 30-day high. The session saw the instr...
Market Summary
The Free-market US Dollar (USD/IRR) experienced a notable gain on August 29, 2026, closing higher after reaching a new 30-day high. The session saw the instrument advance by 33,100 IRR, marking its second consecutive day of increases.
Interactive price chart
Market Analysis
On August 29, the USD/IRR opened at 2,027,000 IRR and traded within a range that saw it reach a session high of 2,062,200 IRR and a low of 2,026,950 IRR. The instrument closed at 2,060,100 IRR, representing a daily increase of approximately 1.63%. This closing price marks the highest close observed in the last 30 days.
The market structure indicates a prevailing bullish trend, with the price trading above its 20-day, 50-day, and 200-day Simple Moving Averages. The Free-market US Dollar is currently trading very close to its 52-week high, standing only 0.10% below that level. Volatility over the past 30 days is measured at approximately 1.24%. The session's high of 2,062,200 IRR is identified as the current resistance level.
Technical Highlights
Momentum indicators largely suggest strong upward pressure. The Relative Strength Index (RSI) is at 76.84, indicating that the asset is in overbought territory.
The Moving Average Convergence Divergence (MACD) shows continued positive momentum, with the MACD line positioned above its signal line and the histogram remaining positive.
The price of the Free-market US Dollar is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing the prevailing bullish trend across multiple timeframes.
The USD/IRR closed above the upper Bollinger Band, which often suggests a strong upward movement but can also indicate that the price may be overextended in the short term.
The Average Directional Index (ADX) is at 29.60, signifying a strong trend. This is further supported by the Plus Directional Indicator (+DI) at 44.80, which is significantly above the Minus Directional Indicator (-DI) at 11.73, confirming strong upward directional movement.
Conclusion
The Free-market US Dollar (USD/IRR) concluded the August 29, 2026 session with a notable gain, reaching a new 30-day closing high and trading near its 52-week peak. Technical indicators largely confirm a strong bullish trend and upward momentum, although some suggest the asset may be entering overbought conditions. The available market data alone do not indicate the underlying cause of the observed price movement.
Live rates
Track the latest Free-market US Dollar (USD/IRR) session on Iran Market Data.