EUR/HUF may fall 115 - 165 pips

Our pivot point stands at 393.88.

Our preference

As long as 393.88 is resistance look for 391.29.

Alternative scenario

Above 393.88, look for 394.72 and 395.22.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands below its 20 and 50 period moving average (respectively at 392.95 and 393.11).

Supports and resistances

395.22 **

394.72 *

393.88 **

393.55

392.94 last

391.79

391.29 **

390.79 *

390.29 **

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