USD/HKD Down 0 Pips in Last Hour, Moves Up For the 2nd Straight Day; Eyes 20, 50 and 100 Day Averages

Hourly Update

(Last Updated April 29, 2022 1:38 GMT)

Currently, USDHKD’s rate is down 0 pips (0%) from the hour prior. USDHKD has seen its price go down 13 out of the past 14 hours, thus creating some compelling opportunities for bears. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDHKD is up 6 pips (0.01%) since the day prior (opening today near 7.84697), marking the 2nd straight day it has gone up. Out of the 39 instruments in the Forex asset class, USDHKD ended up ranking 22nd for the day in terms of price change. Here is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Coming into today USDHKD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Volatility for USDHKD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 9 out of the past 14 days.