USD/HUF may fall to 340.62 - 346.43

Our pivot point is at 367.73.

Our preference

The downside prevails as long as 367.73 is resistance.

Alternative scenario

Above 367.73, look for 377.54 and 383.38.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 365.56 and 362.08).

Supports and resistances

383.38 **

377.54 *

367.73 **

363.87

359.01 last

346.43

340.62 **

334.81 *

329.01 **

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