Free-market US Dollar (USD/IRR) Sees Daily Decline Amidst Broader Bullish Trend
The Free-market US Dollar (USD/IRR) experienced a daily decline on October 31, 2026, closing at 2,705,100 IRR. The session opened at 2,734,900 IRR, reaching...
Market Summary
The Free-market US Dollar (USD/IRR) experienced a daily decline on October 31, 2026, closing at 2,705,100 IRR. The session opened at 2,734,900 IRR, reaching an intraday high of 2,735,100 IRR before falling to a low of 2,695,000 IRR. This marks the first consecutive day of decline for the currency pair. Despite the daily pullback, the overall trend for USD/IRR remains bullish.
Interactive price chart
Market Analysis
The latest trading session for the Free-market US Dollar saw a notable intraday range of 40,100 IRR. The currency opened higher but failed to sustain its initial gains, closing below its opening price. The high of 2,735,100 IRR for the day matched the established resistance level, indicating a test of this ceiling during the session. The low of 2,695,000 IRR, however, remained well above the identified support level of 2,568,600 IRR.
Over the past month, the USD/IRR has shown an upward trajectory, with the current price trading above its 20-day, 50-day, and 200-day Simple Moving Averages. The current closing price is approximately 1.1% away from its 52-week high, while being significantly distant from its 52-week low, underscoring the recent strength.
Technical Highlights
Technical indicators largely support the prevailing bullish trend, even with the recent daily decline. The price of USD/IRR remains above its key moving averages, including the 20-day SMA at 2,666,942 IRR and the 50-day SMA at 2,502,660 IRR, reinforcing the upward momentum.
Momentum, as indicated by the 14-period Relative Strength Index (RSI), is moderately positive at 64.12, staying above the neutral 50 level. However, the MACD histogram shows a negative value of -10,116, suggesting a recent weakening in positive momentum or a potential shift in short-term dynamics.
The Average Directional Index (ADX) stands at 32.98, which indicates a strong trend is in place. The Plus Directional Indicator (+DI) at 34.16 is notably above the Minus Directional Indicator (-DI) at 20.35, confirming the dominance of the upward trend component. Furthermore, both the Supertrend and Parabolic SAR indicators are signaling a bullish direction, with their respective directional values at 1.0.
Conclusion
The Free-market US Dollar (USD/IRR) experienced a daily decline on October 31, 2026, closing lower after touching its resistance level. Despite this single-session pullback, the overall market structure and several technical indicators, including price action relative to moving averages, ADX, Supertrend, and PSAR, continue to point towards a bullish trend. 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.