EUR/HUF may fall 99 - 148 pips

Our pivot point is at 396.22.

Our preference

The downside prevails as long as 396.22 is resistance.

Alternative scenario

The upside breakout of 396.22, would call for 397.05 and 397.55.

Comment

The RSI is below 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 395.73 and 396.02). Finally, the EUR/HUF is trading below its lower Bollinger band (standing at 395.32).

Supports and resistances

397.55 **

397.05 *

396.22 **

395.90

395.25 last

394.26

393.77 **

393.27 *

392.78 **

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