On the chart below we see the USDHKD pair caught a bid today as we say a risk off move toward USD, US Treasuries and away from Euro’s, equities and yield. The steep trendline support could be tested again, but a hold ahead of Christmas should be in order and tests of the trendline above, the 50% retracement (21day mavg) and subsequently the parallel and declining 100 and 200 day mavg’s could be in short order. Stay tuned this could get technical lacking any significant resolution from the Euro Summit.