Free-market US Dollar (USD/IRR) Holds Gains, Nears Resistance

Market Summary

The Free-market US Dollar (USD/IRR) closed at 2,715,000 IRR on October 26, 2026, marking a marginal decline from its opening price of 2,715,100 IRR. Despite the slight intraday dip, the currency pair recorded its second consecutive daily gain based on closing prices, extending a broader bullish trend observed in recent sessions.

Market Analysis

The USD/IRR traded within a range of 2,704,600 IRR to 2,727,100 IRR during the latest session. While the closing price was nearly flat compared to the open, it represented an advance from the previous day's close of 2,695,000 IRR. This marks two consecutive sessions of closing higher. The pair's current level places it close to its 52-week high, being only 0.62% away, and significantly distant from its 52-week low.

The overall market structure indicates a bullish trend. The USD/IRR is trading above its 20-day, 50-day, and 200-day Simple Moving Averages, reinforcing the upward trajectory. The pair encountered resistance near the 2,732,000 IRR level, which was the high recorded on October 22, 2026. Support is identified around 2,568,600 IRR.

Technical Highlights

Several technical indicators support the prevailing bullish sentiment:

• Moving Averages: The price trading above its 20-day, 50-day, and 200-day Simple Moving Averages confirms a strong bullish alignment across different timeframes.
• Relative Strength Index (RSI): With a reading of 67.14, the RSI indicates positive momentum, though it is approaching the 70 threshold, which typically suggests an overbought condition.
• Average Directional Index (ADX): The ADX value of 37.04 points to a strong trend. The Plus Directional Indicator (+DI) at 36.60, significantly above the Minus Directional Indicator (-DI) at 21.99, suggests that buying pressure is dominant within this trend.
• Supertrend: The Supertrend indicator, currently at 2,586,922.90 with a bullish direction, further reinforces the upward trend.
• Bollinger Bands: The USD/IRR is trading near the upper Bollinger Band (2,730,248.90), indicating that the price is at the higher end of its recent volatility range.

Conclusion

The Free-market US Dollar (USD/IRR) maintains a bullish trend, supported by its position above key moving averages and positive momentum indicators. The pair recorded its second consecutive daily gain in closing price, although the latest session saw a flat close relative to its open. Price action is currently testing levels near established resistance. 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.