EUR/HUF may fall 142 - 204 pips

394.20 is our pivot point.

Our preference

The downside prevails as long as 394.20 is resistance.

Alternative scenario

Above 394.20, look for 395.24 and 395.86.

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 is trading under both its 20 and 50 period moving average (respectively at 393.69 and 394.13).

Supports and resistances

395.86 **

395.24 *

394.20 **

393.79

393.28 last

391.86

391.24 **

390.63 *

390.01 **

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