USD/HKD may rise to 7.8296 - 7.8399

Our pivot point stands at 7.7914.

Our preference

Rebound towards 7.8399.

Alternative scenario

Below 7.7914, expect 7.7740 and 7.7637.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 7.8103 and 7.8212).

Supports and resistances

7.8606 **

7.8502 *

7.8399 **

7.8296

7.8085 last

7.7982

7.7914 **

7.7740 *

7.7637 **

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