The Hong Kong dollar to US dollar exchange rate remains flat

The pegged currency continues to hold bullish investors on the defensive. The Hong Kong dollar to US dollar exchange rate remains flat near its support line in trading sessions as seen in the chart. It appears that the pair will ultimately inch its way to its declining resistance level in the coming sessions. That will then form a new resistance in the coming weeks. The pair is evidently bearish as the greenback continues to see reds in trading. The earlier attempt of the buck to recover was futile, the 50-day moving average remains well below the dominating 200-day moving average. Bearish investors of the USDHKD pair are quite confident that the pegged currency will maintain its hold despite the ongoing trade tension between Beijing and Washington. Also, the ongoing anti-Beijing protests in Hong Kong are doing very little to take away the confidence of bearish investors. The protestors mark their first anniversary of defiance against China yesterday.