USD/HUF may rise 172 - 245 pips

Our pivot point is at 359.62.

Our preference

Rebound towards 363.32.

Alternative scenario

The downside breakout of 359.62 would call for 358.38 and 357.64.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 361.18 and 361.58).

Supports and resistances

364.80 **

364.06 *

363.32 **

362.59

360.87 last

360.10

359.62 **

358.38 *

357.64 **

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