Free-market US Dollar (USD/IRR) Records Second Consecutive Decline Amidst Overall Bullish Trend

Market Summary

The Free-market US Dollar (USD/IRR) closed at 2,628,000 IRR on October 18, 2026, marking its second consecutive day of declines. The session opened at 2,634,050 IRR, reached an intraday high of 2,638,000 IRR, and touched a low of 2,603,600 IRR before settling lower.

Market Analysis

Today's trading session saw the Free-market US Dollar extend its recent pullback, closing lower for the second consecutive day. Despite this short-term downward movement, the broader market structure for USD/IRR remains identified as bullish. The instrument continues to trade above its 20-day, 50-day, and 200-day Simple Moving Averages, which typically supports an upward trend.

The price action over the past month shows a significant advance from late September, with the USD/IRR reaching a high close of 2,688,200 IRR on October 6. Following this peak, the instrument experienced a period of consolidation and decline, including four consecutive down days leading up to October 13. While the rate saw a brief recovery on October 14 and 15, the current two-day decline has brought the price approximately 3.39% below its 52-week high, indicating it is still trading within proximity of its recent peak levels. The daily trading range was approximately 34,400 IRR.

Technical Highlights

Several technical indicators provide insights into the current market dynamics. The Average Directional Index (ADX) at 45.63 signals a strong trend is in place, with the Plus DI (37.02) exceeding the Minus DI (27.72), suggesting this strength is associated with the prevailing upward movement. Momentum, as measured by the 14-period Relative Strength Index (RSI), remains moderately positive at 62.39, staying above the neutral 50 level.

The price's position above its 20-day SMA (2,595,600 IRR), 50-day SMA (2,357,747 IRR), and 200-day SMA (1,882,210 IRR) reinforces the bullish market structure. The Supertrend indicator also maintains a bullish direction, with its value at 2,551,600 IRR. However, the Parabolic SAR (PSAR) is currently positioned above the price at 2,695,590.90, indicating a potential short-term bearish signal or a shift in momentum. Similarly, the MACD histogram is negative at -15,644.67, with the MACD line below its signal line, suggesting a weakening of bullish momentum in the short term.

Conclusion

The Free-market US Dollar (USD/IRR) experienced a second consecutive daily decline, closing at 2,628,000 IRR. Despite this short-term weakness, the overall market structure remains bullish, supported by the price trading above key moving averages and a strong trend indicated by the ADX. However, indicators such as PSAR and MACD suggest a potential short-term weakening of bullish momentum. The available market data alone do not indicate the underlying cause of the observed price movement.

Live rates

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