USD/HUF may rise to 383.52 - 390.31

Our pivot point stands at 358.05.

Our preference

As long as 358.05 is support look for 390.31.

Alternative scenario

The downside breakout of 358.05 would call for 346.74 and 340.01.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 367.13 and 362.52).

Supports and resistances

403.88 **

397.10 *

390.31 **

383.52

369.14 last

362.50

358.05 **

346.74 *

340.01 **

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