EUR/HUF may fall 120 - 171 pips

395.16 is our pivot point.

Our preference

The downside prevails as long as 395.16 is resistance.

Alternative scenario

The upside breakout of 395.16, would call for 396.02 and 396.53.

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 394.82 and 394.51).

Supports and resistances

396.53 **

396.02 *

395.16 **

394.83

394.47 last

393.27

392.76 **

392.26 *

391.75 **

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