USD/HKD may fall to 7.7641 - 7.7746

Our pivot point stands at 7.8166.

Our preference

The downside prevails as long as 7.8166 is resistance.

Alternative scenario

Above 7.8166, look for 7.8343 and 7.8449.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.8149 and 7.8225).

Supports and resistances

7.8449 **

7.8343 *

7.8166 **

7.8096

7.8019 last

7.7746

7.7641 **

7.7535 *

7.7429 **

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