USD/HKD may rise 31 - 46 pips

Our pivot point stands at 7.8102.

Our preference

As long as 7.8102 is support look for 7.8172.

Alternative scenario

Below 7.8102, expect 7.8077 and 7.8062.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.8122 and 7.8113).

Supports and resistances

7.8202 **

7.8187 *

7.8172 **

7.8157

7.8126 last

7.8112

7.8102 **

7.8077 *

7.8062 **

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