EUR/HUF may fall 130 - 185 pips

Our pivot point is at 395.06.

Our preference

The downside prevails as long as 395.06 is resistance.

Alternative scenario

Above 395.06, look for 395.98 and 396.53.

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 394.65 and 394.68). Finally, the EUR/HUF is trading below its lower Bollinger band (standing at 393.95).

Supports and resistances

396.53 **

395.98 *

395.06 **

394.69

393.56 last

392.26

391.71 **

391.16 *

390.62 **

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