The closest is the 20 day average, which is 13.5 pips away.
Compared to its peers in the forex, usd/hkd gave its buyers a return that ranked 24th in terms of percentage change since the day prior.
As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign.
For additional context, note that price has gone down 8 out of the past 14 days.
Or to simplify this another way, note that out of the past 10 days chf/jpy’s price has gone down 5 them.
Compared to its peers in the forex, eur/chf gave its buyers a return that ranked 18th in terms of percentage change since yesterday.
Relative to other instruments in the forex asset class, eur/nzd ranked 9th the previous day in terms of percentage price change.
This imputes a buy/sell ratio of 0.38, which is bearish.