USD/HKD Down 2 Pips On Hourly Chart, Entered Today Down For 4th Consecutive Day; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated August 4, 2022 1:38 GMT)

Currently, USDHKD’s rate is down -2 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. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 down 0 pips (0%) since the day prior (opening today near 7.8498), marking 4th consecutive day it is flat. 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

Notably, 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. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 8 them.