© Dukascopy Bank SA
At the moment, the pair is attempting to consolidate above the 200-hour SMA at 7.7575 that represents a critical level since a jump above it will take USD/HKD closer to the neck-line at 7.7598, above which the U.S. Dollar is likely to perform a steep advance versus its Asian peer. However, we have to note that to attain the neck-line, the pair has to overcome two additional resistance zones at 7.7577/80 (daily R1 and four-hour R1) and 7.7583/91 (four-hour R2, R3 and daily R2, R3).
© Dukascopy Bank SA