USD/HUF may fall 190 - 271 pips

Our pivot point stands at 354.47.

Our preference

The downside prevails as long as 354.47 is resistance.

Alternative scenario

The upside breakout of 354.47, would call for 355.84 and 356.66.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 353.21 and 353.38).

Supports and resistances

356.66 **

355.84 *

354.47 **

353.94

353.07 last

351.17

350.36 **

349.54 *

348.73 **

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