EUR/HUF may fall to 382.08 - 385.58

Our pivot point stands at 398.82.

Our preference

Under pressure below 398.82.

Alternative scenario

The upside breakout of 398.82, would call for 404.74 and 408.26.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 393.50 and 393.76).

Supports and resistances

408.26 **

404.74 *

398.82 **

396.50

393.25 last

385.58

382.08 **

378.57 *

375.06 **

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