USD/HKD may rise to 7.7965 - 7.8075

Our pivot point is at 7.7572.

Our preference

Rebound towards 7.8075.

Alternative scenario

The downside breakout of 7.7572 would call for 7.7388 and 7.7278.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (7.7707) but under its 50 period moving average (7.7851).

Supports and resistances

7.8295 **

7.8185 *

7.8075 **

7.7965

7.7736 last

7.7644

7.7572 **

7.7388 *

7.7278 **

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