EUR/HUF may fall to 383.04 - 386.52

Our pivot point stands at 399.01.

Our preference

Under pressure below 399.01.

Alternative scenario

The upside breakout of 399.01, would call for 404.86 and 408.35.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 394.61 and 394.04).

Supports and resistances

408.35 **

404.86 *

399.01 **

396.71

394.03 last

386.52

383.04 **

379.57 *

376.09 **

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