USD/HKD Down 0 Pips in Last Hour, 5 Day Up Streak Snapped; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated July 13, 2022 1:35 GMT)

At the moment, USDHKD’s rate is down 0 pips (0%) from the hour prior. USDHKD has seen its price go down 30 out of the past 30 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD, which opened today priced near 7.8499, is down 2 pips 0% since the previous day, marking straight day — and the end of a 5 day positive run. Relative to other instruments in the Forex asset class, USDHKD ranked 16th the previous day in terms of percentage price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

The first thing we should note is that USDHKD 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 14.8 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.