USD/HKD Price Recap
USD/HKD is up 77 pips (0.1%) since yesterday (with its current price near 7.77673), marking the 2nd day in a row it has gone up. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 95.94% from the day prior, and up 28.68% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/HKD ended up ranking 19th for the day in terms of day-over-day price change. Below is a price chart of USD/HKD.
USD/HKD Technical Analysis
First things first: USD/HKD crossed above its 50 day moving average 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 6 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. In addition to the moving average crossover, USD/HKD may have broken its trend on the 14 day basis, as the trend’s momentum appears to be slowing down. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 15 out of the past 30 days.