USD/HUF may fall 233 - 316 pips

Our pivot point stands at 357.73.

Our preference

The downside prevails as long as 357.73 is resistance.

Alternative scenario

The upside breakout of 357.73, would call for 359.14 and 359.97.

Comment

The RSI is below 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 357.10 and 357.27).

Supports and resistances

359.97 **

359.14 *

357.73 **

357.18

356.58 last

354.25

353.42 **

352.59 *

351.75 **

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