USD/HKD Down 1 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated November 10, 2022 1:45 GMT)

At the moment, USDHKD’s rate is down 1 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. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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)

The back and forth price flow continues for USDHKD, which started today off at 7.8492, down 5 pips 0.01% from the previous day. Relative to other instruments in the Forex asset class, USDHKD ranked 17th the previous day in terms of percentage price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD crossed below its 20 and 50 day moving averages yesterday. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days USDHKD’s price has gone up 3 them.