USD/HUF may fall 177 - 249 pips

Our pivot point stands at 363.31.

Our preference

The downside prevails as long as 363.31 is resistance.

Alternative scenario

Above 363.31, look for 364.53 and 365.25.

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 362.46 and 362.75).

Supports and resistances

365.25 **

364.53 *

363.31 **

362.84

362.23 last

360.46

359.74 **

359.01 *

358.29 **

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