EUR/HUF may fall to 379.41 - 382.57

Our pivot point stands at 394.29.

Our preference

The downside prevails as long as 394.29 is resistance.

Alternative scenario

The upside breakout of 394.29, would call for 399.62 and 402.79.

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 392.74 and 391.40).

Supports and resistances

402.79 **

399.62 *

394.29 **

392.20

389.97 last

382.57

379.41 **

376.25 *

373.09 **

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