USD/HKD Down 5 Pips in Last 4 Hours, Breaks Above 20 and 100 Day Averages; Price Base in Formation Over Past 90 Days

USD/HKD 4 Hour Price Update

Updated July 24, 2020 09:07 PM GMT (05:07 PM EST)

The back and forth price flow continues for USD/HKD, which started the current 4 hour candle off at 7.7513, down 5 pips 0.01% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, USD/HKD ended up ranking 23rd for the four-hour candle in terms of 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 day prior. Relative to other instruments in the Forex asset class, USD/HKD ranked 20th the day prior in terms of percentage price change. Let’s take a look at price chart of USD/HKD.

USD/HKD

USD/HKD Technical Analysis

Notably, 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Also of note is that on a 90 day basis 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 8 out of the past 14 days.