USD/HUF may fall 217 - 313 pips

Our pivot point is at 363.92.

Our preference

The downside prevails as long as 363.92 is resistance.

Alternative scenario

Above 363.92, look for 365.54 and 366.50.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 362.86 and 363.34).

Supports and resistances

366.50 **

365.54 *

363.92 **

363.29

362.51 last

360.34

359.38 **

358.42 *

357.46 **

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