USD/HKD intraday : under pressure below 7.8512

Our pivot point is at 7.8512.

Our preference: under pressure below 7.8512

Alternative scenario: above 7.8512, look for 7.8529 and 7.8539.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 7.8499 and 7.8498).

Supports and resistances:

7.8539 **

7.8529 *

7.8512 **

7.8506

7.8498 last

7.8477

7.8467 **