The USD/HKD is down, but pares losses to 7.7978 from an intraday low of 7.7950 earlier; the pair was at 7.8050 late Wednesday. "The move is largely in-line with the stock market," says a trader at a European bank.
The HSI was up as much as 1.2% in the early session, but has erased most of its gains and is now down 0.4%. He believes the pair is still biased lower, and may fall to 7.7930 later in the day if European equities perform better. Meanwhile, the pair's resistance is tipped at 7.7980.
USD/HKD Trims Losses; But May Slide To 7.7930
Posted by
BorsaStreet.com
on Thursday, September 15, 2011
Elliottwave
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