USD/HKD may rise 40 - 53 pips

7.8098 is our pivot point.

Our preference

The upside prevails as long as 7.8098 is support.

Alternative scenario

Below 7.8098, expect 7.8076 and 7.8063.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.8100 and 7.8090).

Supports and resistances

7.8196 **

7.8183 *

7.8170 **

7.8157

7.8117 last

7.8106

7.8098 **

7.8076 *

7.8063 **

Number of asterisks represents the strength of support and resistance levels.