USD/HKD Price Recap
The back and forth price flow continues for USD/HKD, which starts today off at 7.76905 US dollars, up 11 pips 0.01% from the previous day. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 18.68% from the day before — and down 47.39% from the same day the week before. Relative to other instruments in the Forex asset class, USD/HKD ranked 15th yesterday in terms of percentage price change. Here is a price chart of USD/HKD.
USD/HKD Technical Analysis
The first thing we should note is that USD/HKD is now close to its 20, 50, 100 and 200 day averages, located at 7.7769, 7.773, 7.7962 and 7.8134 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 39 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 14 out of the past 30 days.