USD/HUF may fall to 340.59 - 344.66

359.45 is our pivot point.

Our preference

The downside prevails as long as 359.45 is resistance.

Alternative scenario

Above 359.45, look for 366.30 and 370.38.

Comment

The RSI is below 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 357.82 and 362.45).

Supports and resistances

370.38 **

366.30 *

359.45 **

356.75

353.57 last

344.66

340.59 **

336.53 *

332.46 **

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