USD/HUF may fall 214 - 310 pips

Our pivot point is at 370.54.

Our preference

Technical rebound towards 370.54 before a new drop.

Alternative scenario

The upside breakout of 370.54, would call for 372.16 and 373.13.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (368.73) but below its 50 period moving average (368.96).

Supports and resistances

373.13 **

372.16 *

370.54 **

369.91

368.94 last

366.80

365.84 **

364.87 *

363.91 **

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