USD/HUF: Down 1.15% to 311.57 — Descending Channel

USD/HUF is trading at 311.57 (-1.15%), breaking below both the 20-day (313.58) and 50-day (313.78) SMAs in a clear bearish signal. The pair has retreated from today's high of 317.55, now trading near the lower end of its daily range (314.82–317.55), reinforcing the downtrend evident in the descending 20-day dynamic channel. The nearest dynamic resistance stands at 321.12 (ascending, +1.88% / 955.6 pips above current), while dynamic support sits at 305.91 (descending, -2.95% / 565.3 pips below). The 50-day channel remains flat, suggesting indecision in the medium-term trend, but today's decisive move below key moving averages tilts the bias lower.

Static levels show S1 at 315.11 (just 354 pips above current), which aligns closely with today's low, while R1 at 319.82 (+2.65% / 825 pips away) remains distant. The RSI at 53.5 is neutral but fading from recent highs, supporting the bearish momentum. With the pair trading below both SMAs and the descending 20-day channel intact, the short-term outlook favors further downside. A break below today's low (314.82) could accelerate toward the dynamic support at 305.91. Confirmation would come with a close below 310.00, while a rebound above the 20-day SMA (313.58) would challenge the bearish case. The next key catalyst is Hungary's CPI data due next week, which could either reinforce the forint's strength or trigger a corrective bounce if inflation surprises higher.