Today's USD to UGX Price Update

Summary

This report provides the real-time exchange rate between the U.S. Dollar (USD) and the Ugandan Shilling (UGX), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The U.S. Dollar (USD) is one of the world’s most dominant fiat currencies, while the Ugandan Shilling (UGX) is the official currency of Uganda. The exchange rate between them reflects market sentiment toward the USD’s strength in forex markets and investor confidence in currency stability.

Today’s Price

• 1 USD = 3,568.05 UGX
• 24h High: 3,604.33 UGX
• 24h Low: 3,599.70 UGX

Market Analysis

Recently, the USD/UGX pair has shown modest resilience, with the U.S. Dollar gaining 0.26% in forex markets. Current market forecasts suggest continued strength in the pair through the near term.

• Technical levels: Key support at 3,662.80 UGX, with potential for the pair to rally toward 3,700.00 UGX if support holds
• Short-term forecast: The pair is expected to reach 3,600.42 UGX within the next 24 hours and potentially 3,662.90 UGX within 7 days
• Trading opportunities: Given current horizontal trend patterns, the pair is expected to trade within a range of 3,420.75 to 3,581.12 UGX with high probability. February forecasts suggest a potential rally of up to 1.40%, with an average price target of 3,638.00 UGX

Conclusion

Continue to monitor the USD/UGX pair closely, focusing on key support and resistance levels identified through technical analysis. Traders should remain alert to potential breakouts above resistance and capitalize on range-bound trading opportunities within established price zones.