USD/HKD Up 10 Pips On Hourly Chart, in an Uptrend Over Past 30 Days; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated December 16, 2021 1:37 GMT)

At the time of this writing, USDHKD’s rate is up 10 pips (0.01%) from the hour prior. USDHKD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 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 and 50 hour moving averages, resulting in them with price now being above them. 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 entered today at 7.80281, up 13 pips (0.02%) from the previous day. Relative to other instruments in the Forex asset class, USDHKD ranked 26th the previous day in terms of percentage price change. Below is a price chart of USDHKD.

USDHKD

USDHKD Technical Analysis

Notably, the current price of USDHKD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 15 out of the past 30 days.