Free-market US Dollar (USD/IRR) Retreats from Recent Highs Amidst Bullish Trend

Market Summary

The Free-market US Dollar (USD/IRR) experienced a decline on October 24, 2026, closing lower after opening with a gain. The session saw the currency pair trade within a wide range before settling below its opening price, marking a consecutive down day.

Market Analysis

On October 24, the Free-market US Dollar opened at 2,712,000 IRR, reaching an intraday high of 2,715,000 IRR. However, it subsequently fell to a low of 2,675,000 IRR before closing the session at 2,685,000 IRR. This represents a daily decline from its opening level and follows a previous day's close of 2,719,050 IRR.

Despite the recent daily retreat, the overall market structure for USD/IRR remains bullish. The price is currently trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing the established upward trend. The current price is also relatively close to its 52-week high, with a distance of 1.72% from that peak, while being significantly above its 52-week low by 91.74%. Volatility over the last 30 days stands at approximately 1.51%. Key levels to watch include a support at 2,546,600 IRR and resistance at 2,732,000 IRR.

Technical Highlights

Several technical indicators provide further insight into the USD/IRR's current state:

• Trend Confirmation: The price of 2,685,000 IRR is trading above its 20-day Simple Moving Average (SMA) of 2,653,850 IRR, consistent with the identified bullish trend. Both the Supertrend indicator, at 2,585,112.55 IRR, and the Parabolic SAR (PSAR), at 2,577,735.68 IRR, indicate an upward trend direction.
• Momentum: The 14-period Relative Strength Index (RSI) is at 64.42, suggesting moderately positive momentum as it remains above the neutral 50 level.
• Trend Strength: The Average Directional Index (ADX) is at 39.18, indicating a strong trend is in place. The Plus Directional Indicator (+DI) of 39.30 is notably above the Minus Directional Indicator (-DI) of 24.38, reinforcing the strength of the upward movement.
• Short-term Momentum Shift: The Moving Average Convergence Divergence (MACD) line, at 73,879.25, is currently below its signal line of 84,154.40, resulting in a negative histogram of -10,275.15. This suggests a recent weakening of short-term bullish momentum.

Conclusion

The Free-market US Dollar (USD/IRR) experienced a daily decline on October 24, closing lower after opening higher. Despite this recent pullback, the broader market trend remains bullish, with the price trading above key moving averages and supported by indicators like Supertrend and PSAR. While momentum indicators like RSI and ADX confirm positive trend strength, the MACD suggests a recent softening of short-term bullish momentum. 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.