USD/HKD Down 2 Pips Over Past Hour, 4 Day Up Streak Ended; Eyes 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated September 22, 2022 1:35 GMT)

Currently, USDHKD’s rate is down 2 pips (0%) from the hour prior. USDHKD has seen its price go down 5 out of the past 5 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 up 8 pips 0.01% since the day prior, marking a reversal from the day prior — and the end of a 4 day unchanged run. Relative to other instruments in the Forex asset class, USDHKD ranked 15th the day prior in terms of percentage price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Notably, USDHKD is now close to its 20, 50, 100 and 200 day averages, located at 7.8487, 7.8479, 7.8482 and 7.8308 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 12 pips away. 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. Also of note is that on the 14 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 5 out of the past 14 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!