EUR/HUF may fall to 376.62 - 379.36

Our pivot point is at 389.73.

Our preference

The downside prevails as long as 389.73 is resistance.

Alternative scenario

The upside breakout of 389.73, would call for 394.34 and 397.09.

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 388.50 and 391.45).

Supports and resistances

397.09 **

394.34 *

389.73 **

387.91

385.75 last

379.36

376.62 **

373.88 *

371.14 **

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