USD/HUF may rise 171 - 254 pips

Our pivot point stands at 354.91.

Our preference

Rebound towards 359.24.

Alternative scenario

The downside breakout of 354.91 would call for 353.51 and 352.68.

Comment

The RSI is below its neutrality area at 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 (356.47) but under its 50 period moving average (357.42).

Supports and resistances

360.91 **

360.07 *

359.24 **

358.41

356.70 last

355.45

354.91 **

353.51 *

352.68 **

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