USDHKD Down 14 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated May 6, 2021 3:14 GMT)

At the moment, USDHKD’s rate is down -14 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as USDHKD has now gone down 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. 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 is up 19 pips (0.02%) since the day prior (opening today near 7.76976), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, USDHKD ranked 20th the day prior in terms of percentage price change. Let’s take a look at 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 averages, located at 7.7667, 7.7664, 7.7597 and 7.7552 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.