USD/HKD 1H Chart: Rising Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
It might not be the case that USD/HKD is forming a rising wedge while being in a major up-trend (one of the pattern's requirements), but during the last 40 hours the currency pair has been consistently fluctuating within two converging trend-lines and thereby gradually reducing the trading range.
Now the price is facing a cluster of resistances that is likely to prevent USD/HKD from recovering any further, since the area at 7.7571/68 consists of the 200-hour SMA, up-trend line, daily R1 and four-hour R2. The notable support, in the meantime, is at 7.7562.

© Dukascopy Bank SA
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