EUR/HUF may fall 192 - 256 pips

Our pivot point stands at 393.31.

Our preference

The downside prevails as long as 393.31 is resistance.

Alternative scenario

The upside breakout of 393.31, would call for 394.38 and 395.02.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 392.59 and 392.81).

Supports and resistances

395.02 **

394.38 *

393.31 **

392.88

392.46 last

390.54

389.90 **

389.26 *

388.62 **

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