USD/HKD Price Recap
USD/HKD, currently priced near 7.76413, is up 34 pips 0.04% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 4.83% from the day before — and down 12.39% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 18th for the day in terms of day-over-day price change. Let’s take a look at price chart of USD/HKD.
USD/HKD Technical Analysis
Notably, USD/HKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 77 pips away. Something else of critical noteworthiness is that USD/HKD’s momentum/trend on a 90 day basis may be decelerating. For additional context, note that price has gone down 6 out of the past 10 days.