USD/HUF may fall 178 - 252 pips

Our pivot point stands at 366.36.

Our preference

The downside prevails as long as 366.36 is resistance.

Alternative scenario

The upside breakout of 366.36, would call for 367.61 and 368.35.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 365.71 and 366.01).

Supports and resistances

368.35 **

367.61 *

366.36 **

365.87

365.20 last

363.42

362.68 **

361.94 *

361.19 **

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