USD/HUF may fall to 344.27 - 349.23

Our pivot point is at 367.19.

Our preference

The downside prevails as long as 367.19 is resistance.

Alternative scenario

The upside breakout of 367.19, would call for 375.55 and 380.52.

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 361.64 and 363.91).

Supports and resistances

380.52 **

375.55 *

367.19 **

363.91

360.47 last

349.23

344.27 **

339.32 *

334.37 **

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