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Daily Forex Update: USD/HKD

Published 08/07/2012, 05:51 AM
Updated 03/09/2019, 08:30 AM

Autochartist has recently identified the horizontal Key Resistance Level 7.7559 (of the type Approach) on the 4-hour USD/HKD charts. The Significance of this Key Level is measured at the 5 bar level as a result of the 5 recent price reversals from this resistance. As can be seen from the following Key Level chart, the price had also previously reversed up numerous times from the major support level at 7.7530. USD/HKD is expected to continue upward movement toward this Key Resistance 7.7559 – as is also indicated by the PowerStats analysis shown below.
Daily Fx 1
As can be seen from the PowerStats chart below, the upper border of the daily Expected Price Range for USD/HKD for tomorrow (7.7580) far exceeds the above Key Resistance Level 7.7559 – which increases the probability that this currency pair will soon approach this Key Level.
Daily Fx 2

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