USD/HKD may rise 36 - 53 pips

7.7662 is our pivot point.

Our preference

The upside prevails as long as 7.7662 is support.

Alternative scenario

The downside breakout of 7.7662 would call for 7.7633 and 7.7616.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 7.7674 and 7.7674).

Supports and resistances

7.7772 **

7.7755 *

7.7738 **

7.7721

7.7685 last

7.7673

7.7662 **

7.7633 *

7.7616 **

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