USD/HKD may rise 41 - 58 pips

Our pivot point is at 7.7883.

Our preference

Rebound towards 7.7968.

Alternative scenario

Below 7.7883, expect 7.7853 and 7.7836.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.7918 and 7.7937).

Supports and resistances

7.8004 **

7.7986 *

7.7968 **

7.7951

7.7910 last

7.7895

7.7883 **

7.7853 *

7.7836 **

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