USD/HUF may fall to 341.83 - 346.89

Our pivot point stands at 365.44.

Our preference

The downside prevails as long as 365.44 is resistance.

Alternative scenario

The upside breakout of 365.44, would call for 373.98 and 379.07.

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 362.79 and 361.97).

Supports and resistances

379.07 **

373.98 *

365.44 **

362.08

358.45 last

346.89

341.83 **

336.77 *

331.71 **

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