USD/HUF may rise 192 - 288 pips

Our pivot point is at 360.69.

Our preference

Look for a drop towards 360.69 before a bounce.

Alternative scenario

Below 360.69, expect 359.08 and 358.13.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 362.57 and 362.41).

Supports and resistances

367.70 **

366.74 *

365.78 **

364.82

362.90 last

361.33

360.69 **

359.08 *

358.13 **

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