USD/HKD may fall to 7.7443 - 7.7579

Our pivot point stands at 7.8088.

Our preference

The downside prevails as long as 7.8088 is resistance.

Alternative scenario

Above 7.8088, look for 7.8316 and 7.8452.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 7.8008 and 7.8064).

Supports and resistances

7.8452 **

7.8316 *

7.8088 **

7.7999

7.7894 last

7.7579

7.7443 **

7.7308 *

7.7172 **

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