USD/HKD Up 62 Pips, in a Downtrend Over Past 14 Days; Nears 20 and 50 Day Moving Averages

USD/HKD Price Recap

The back and forth price flow continues for USD/HKD, which starts today off at 7.77103 US dollars, up 62 pips 0.08% from the previous day. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 41.22% from the day prior, and up 140.51% from the same day the week before. Relative to other instruments in the Forex asset class, USD/HKD ranked 20th yesterday in terms of percentage price change. Below is a price chart of USD/HKD.

USD/HKD Technical Analysis

The first thing we should note is that the current price of USD/HKD 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. Volatility for USD/HKD has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days USD/HKD’s price has gone down 5 them.