USD/HUF may fall 168 - 240 pips

Our pivot point stands at 364.23.

Our preference

The downside prevails as long as 364.23 is resistance.

Alternative scenario

The upside breakout of 364.23, would call for 365.44 and 366.17.

Comment

The RSI is below its neutrality area at 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 363.46 and 364).

Supports and resistances

366.17 **

365.44 *

364.23 **

363.75

363.04 last

361.36

360.64 **

359.92 *

359.19 **

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