EUR/HKD 1H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having plunged to almost a two-month low of 10.1646, EUR/HKD received a boost and started to shape a channel up pattern that allowed the pair to attain almost a one-month high of 10.3791 on September 16. A rise to this level enfeebled the pair that retreated to its 50-hour SMA at 10.3527. Now the pair is trading above its daily pivot point at 10.3532 and is likely to cross the cluster of four-hour resistances lying at 10.3618/58 and then approach a daily resistance at 10.3728, a breach through which will push a one-month high of 10.3791 back to the fore.
© Dukascopy Bank SA
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