EUR/HUF may fall 93 - 132 pips

401.48 is our pivot point.

Our preference

The downside prevails as long as 401.48 is resistance.

Alternative scenario

Above 401.48, look for 402.14 and 402.54.

Comment

The RSI is below 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 401.08 and 401.05).

Supports and resistances

402.54 **

402.14 *

401.48 **

401.22

400.81 last

399.88

399.49 **

399.09 *

398.70 **

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