USD/HUF may fall 136 - 202 pips

Our pivot point is at 364.49.

Our preference

The downside prevails as long as 364.49 is resistance.

Alternative scenario

Above 364.49, look for 365.61 and 366.28.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 364.25 and 364.72). Finally, the USD/HUF is trading below its lower Bollinger band (standing at 362.81).

Supports and resistances

366.28 **

365.61 *

364.49 **

364.04

362.18 last

360.82

360.16 **

359.49 *

358.82 **

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