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Similarly to EUR/USD, EUR/HKD is also forming an upward-sloping channel on the hourly chart. A week ago the currency pair hit a rock bottom near 10.60 and since then has been generally moving north while fluctuating between two parallel rising lines.
Accordingly, the Euro is expected to find support near the up-trend line at 10.7679 and carry on with the rally. However, if the demand there proves to be too soft to overpower the current selling pressure, instead of the upper boundary of the channel at 10.8142 EUR/HKD will most likely target a cluster of supports at 10.70, mainly consisting of the weekly R1 and 200-hour SMA.
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