USD/HKD may rise to 7.8250 - 7.8315

Our pivot point stands at 7.8009.

Our preference

Our next up target stands at 7.8315.

Alternative scenario

The downside breakout of 7.8009 would call for 7.7899 and 7.7833.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.8090 and 7.8101).

Supports and resistances

7.8446 **

7.8380 *

7.8315 **

7.8250

7.8107 last

7.8052

7.8009 **

7.7899 *

7.7833 **

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