USD/HUF may fall 254 - 338 pips

Our pivot point is at 371.92.

Our preference

The downside prevails as long as 371.92 is resistance.

Alternative scenario

The upside breakout of 371.92, would call for 373.32 and 374.16.

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 371.67 and 371.83).

Supports and resistances

374.16 **

373.32 *

371.92 **

371.36

370.79 last

368.25

367.41 **

366.58 *

365.74 **

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