| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇘ |
The USD/HKD exchange rate has been trading within the ascending channel since the beginning of July. As apparent on the chart, the rate has already reversed north from the lower channel line at 7.8020.
From a theoretical point of view, it is expected, that some upside potential could prevail in the market in the short term, as the currency pair should target the upper channel line located in the 7.8400/7.8500 range.
However, note, that the pair has to surpass the resistance cluster formed by the 200-hour SMA, the weekly and monthly PPs in the 7.8158/7.8174 range. If the given resistance holds, the rate could reverse south and breach the given channel south.