USD/HUF may fall 170 - 245 pips

Our pivot point stands at 367.94.

Our preference

The downside prevails as long as 367.94 is resistance.

Alternative scenario

The upside breakout of 367.94, would call for 369.19 and 369.94.

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 is trading under both its 20 and 50 period moving average (respectively at 367.18 and 366.81).

Supports and resistances

369.94 **

369.19 *

367.94 **

367.44

366.66 last

364.96

364.21 **

363.47 *

362.72 **

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