EUR/HUF may fall 106 - 151 pips

392.88 is our pivot point.

Our preference

The downside prevails as long as 392.88 is resistance.

Alternative scenario

The upside breakout of 392.88, would call for 393.65 and 394.10.

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 392.73 and 392.38). Finally, the EUR/HUF has penetrated its lower Bollinger band (392.10).

Supports and resistances

394.10 **

393.65 *

392.88 **

392.59

392.07 last

391.01

390.56 **

390.11 *

389.65 **

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