USD/HKD: next sell target - 7.7510
• USD/HKD reached sell target 7.7550
• Next sell target - 7.7510
USD/HKD has been falling sharply in the last few trading sessions – in line with our previous forecast for this currency pair. The price today broke the support level 7.7550, which was set in our earlier report as the sell target for this instrument. The breakout of this support level should accelerate the active minor corrective wave 2 (which belongs to the 3rd intermediate impulse wave (3) from the middle of January).
USD/HKD is likely to fall further toward the next sell target at the strong support level 7.7510 (this support level has been reversing this pair from December, as you can see from the daily USD/HKD chart below). This support level is also the forecast price for the completion of the active minor correction 2.