USD/HUF may fall 178 - 252 pips

Our pivot point is at 368.09.

Our preference

The downside prevails as long as 368.09 is resistance.

Alternative scenario

Above 368.09, look for 369.34 and 370.08.

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 367.30 and 367.27).

Supports and resistances

370.08 **

369.34 *

368.09 **

367.60

367.07 last

365.29

364.55 **

363.81 *

363.06 **

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