USD/HKD may rise 37 - 54 pips

Our pivot point stands at 7.7689.

Our preference

The upside prevails as long as 7.7689 is support.

Alternative scenario

The downside breakout of 7.7689 would call for 7.7661 and 7.7644.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 7.7708 and 7.7706).

Supports and resistances

7.7812 **

7.7795 *

7.7779 **

7.7762

7.7725 last

7.7700

7.7689 **

7.7661 *

7.7644 **

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