USD/HUF may fall 155 - 226 pips

Our pivot point is at 361.54.

Our preference

The downside prevails as long as 361.54 is resistance.

Alternative scenario

Above 361.54, look for 362.75 and 363.47.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 360.78 and 361.17).

Supports and resistances

363.47 **

362.75 *

361.54 **

361.06

360.32 last

358.77

358.06 **

357.34 *

356.62 **

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