EUR/HUF may fall 98 - 140 pips

401.31 is our pivot point.

Our preference

The downside prevails as long as 401.31 is resistance.

Alternative scenario

The upside breakout of 401.31, would call for 402.03 and 402.46.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 400.95 and 401.25). Finally, the EUR/HUF is trading below its lower Bollinger band (standing at 400.49).

Supports and resistances

402.46 **

402.03 *

401.31 **

401.03

400.42 last

399.44

399.02 **

398.59 *

398.16 **

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