USD/HKD may rise 32 - 48 pips

7.7716 is our pivot point.

Our preference

The upside prevails as long as 7.7716 is support.

Alternative scenario

The downside breakout of 7.7716 would call for 7.7690 and 7.7674.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 7.7734 and 7.7731).

Supports and resistances

7.7822 **

7.7806 *

7.7791 **

7.7775

7.7743 last

7.7727

7.7716 **

7.7690 *

7.7674 **

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