EUR/HUF may fall 97 - 143 pips

Our pivot point stands at 392.75.

Our preference

The downside prevails as long as 392.75 is resistance.

Alternative scenario

Above 392.75, look for 393.52 and 393.98.

Comment

The RSI is below 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 391.99 and 392.38). Finally, the EUR/HUF has penetrated its lower Bollinger band (391.54).

Supports and resistances

393.98 **

393.52 *

392.75 **

392.44

391.32 last

390.35

389.89 **

389.43 *

388.98 **

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