USD/HUF may rise 156 - 223 pips

Our pivot point is at 365.60.

Our preference

Look for a drop towards 365.60 before a bounce.

Alternative scenario

The downside breakout of 365.60 would call for 364.46 and 363.79.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price stands below its 20 and 50 period moving average (respectively at 366.84 and 366.84).

Supports and resistances

370.40 **

369.72 *

369.04 **

368.37

366.81 last

366.04

365.60 **

364.46 *

363.79 **

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