Free-market US Dollar (USD/IRR) Reaches 30-Day High Amid Strong Momentum

Market Summary

On September 28, 2026, the Free-market US Dollar (USD/IRR) closed at 2,448,000 Iranian Rial (IRR), marking a gain from its opening price of 2,405,000 IRR. The session saw the instrument trade within a range, reaching a high of 2,450,200 IRR and a low of 2,402,600 IRR. This closing price represents the highest recorded close for the USD/IRR in the last 30 days and extends its consecutive daily gains to two sessions.

Market Analysis

The Free-market US Dollar is currently in a bullish trend. The price action on September 28 saw the USD/IRR reach its highest point in the last 30 days, with the session's high of 2,450,200 IRR also acting as the immediate resistance level. The instrument is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, a configuration that typically reinforces a bullish outlook.

Over the past month, the USD/IRR has demonstrated an upward trajectory, punctuated by periods of sustained gains. Notably, the instrument recorded a four-day streak of higher closes leading up to September 22. The current price is approximately 9% below its 52-week high, while remaining significantly above its 52-week low. Volatility over the last 30 days stands at approximately 1.49%.

Technical Highlights

Several technical indicators underscore the strong upward momentum observed in the Free-market US Dollar:

• Relative Strength Index (RSI): The 14-period RSI is at 76.86. A reading above 70 indicates strong upward momentum, potentially suggesting that the instrument is in overbought territory.
• Average Directional Index (ADX): The ADX is at 49.29, signaling a very strong trend. This is further supported by the Plus Directional Indicator (+DI) at 51.65, which is significantly higher than the Minus Directional Indicator (-DI) at 14.63, confirming the strength of the bullish trend.
• Bollinger Bands: The closing price of 2,448,000 IRR is above the upper Bollinger Band of 2,407,701 IRR. This suggests that the price has extended beyond its typical volatility range, often observed during periods of strong upward price movements.
• Moving Averages: The USD/IRR is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, which are positioned at 2,313,683 IRR, 2,102,466 IRR, and 1,799,598 IRR, respectively. This alignment is a classic indicator of a robust uptrend.
• Commodity Channel Index (CCI): The 20-period CCI is at 254.38. A value well above 100 (and 200) indicates strong upward momentum and can also suggest that the instrument is in an overbought condition.

Conclusion

The Free-market US Dollar (USD/IRR) concluded the September 28 session with a notable gain, reaching its highest close in 30 days and extending its bullish trend. Technical indicators largely corroborate this strong upward momentum, with the price trading above key moving averages and momentum oscillators signaling potentially overextended conditions. The available market data alone do not indicate the underlying cause of the observed price movement.

Live rates

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