EUR/HUF may fall 109 - 155 pips

Our pivot point stands at 394.85.

Our preference

The downside prevails as long as 394.85 is resistance.

Alternative scenario

Above 394.85, look for 395.63 and 396.09.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 394.32 and 394.65).

Supports and resistances

396.09 **

395.63 *

394.85 **

394.55

394.03 last

392.94

392.48 **

392.02 *

391.56 **

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