USD/HUF may rise 219 - 297 pips

352.12 is our pivot point.

Our preference

Rebound towards 356.19.

Alternative scenario

The downside breakout of 352.12 would call for 350.80 and 350.02.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 353.38 and 353.85).

Supports and resistances

357.76 **

356.98 *

356.19 **

355.41

353.22 last

352.63

352.12 **

350.80 *

350.02 **

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