USD/HKD Down 5 Pips On 4 Hour Chart, Breaks Above 20 and 100 Day Averages; in an Uptrend Over Past 30 Days

USD/HKD 4 Hour Price Update

Updated July 24, 2020 01:08 PM GMT (09:08 AM EST)

The back and forth price flow continues for USD/HKD, which started the current 4 hour candle off at 7.7512, down 5 pips 0.01% from the last 4 hour candle. Relative to other instruments in the Forex asset class, USD/HKD ranked 17th the last 4 hour candle in terms of percentage price change.

USD/HKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/HKD, which started today off at 7.75165, up 6 pips 0.01% from the previous day. Relative to other instruments in the Forex asset class, USD/HKD ranked 20th the previous day in terms of percentage price change. Below is a price chart of USD/HKD.

USD/HKD Technical Analysis

First things first: USD/HKD crossed above its 20 and 100 day moving averages yesterday. 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 3.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 7 out of the past 10 days.