CAD/HKD 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
CAD/HKD breached the support of a 306-bar long channel down pattern two hours ago that may be signal of a bearish breakout that if comes true would suggest on-going weakness of the pair.
At the moment of writing, the pair was trading at a three-month low and may decline to daily support at 7.3332 that may restrict deeper selloff. Meanwhile, technical indicators point to weakness in the medium-term and are neutral for short and long terms.
© Dukascopy Bank SA
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