USD/HUF may fall 182 - 254 pips

Our pivot point stands at 374.23.

Our preference

The downside prevails as long as 374.23 is resistance.

Alternative scenario

Above 374.23, look for 375.43 and 376.15.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 373.44 and 373.35).

Supports and resistances

376.15 **

375.43 *

374.23 **

373.75

373.08 last

371.26

370.54 **

369.82 *

369.10 **

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