USD/HKD may rise 39 - 56 pips

7.7676 is our pivot point.

Our preference

Rise to 7.7758.

Alternative scenario

Below 7.7676, expect 7.7648 and 7.7631.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.7702 and 7.7702).

Supports and resistances

7.7792 **

7.7775 *

7.7758 **

7.7741

7.7702 last

7.7688

7.7676 **

7.7648 *

7.7631 **

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