USD/HUF may rise to 368.54 - 373.29

Our pivot point stands at 350.75.

Our preference

Rebound towards 373.29.

Alternative scenario

The downside breakout of 350.75 would call for 342.82 and 338.10.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (356.95) but below its 50 period moving average (361.85).

Supports and resistances

382.78 **

378.04 *

373.29 **

368.54

358.56 last

353.87

350.75 **

342.82 *

338.10 **

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