USD/HUF may fall 205 - 298 pips

Our pivot point is at 354.75.

Our preference

The downside prevails as long as 354.75 is resistance.

Alternative scenario

The upside breakout of 354.75, would call for 356.31 and 357.25.

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 is trading under both its 20 and 50 period moving average (respectively at 354.58 and 354.41).

Supports and resistances

357.25 **

356.31 *

354.75 **

354.14

353.04 last

350.99

350.06 **

349.13 *

348.20 **

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