USD/HUF may rise to 379.67 - 386.27

Our pivot point stands at 355.09.

Our preference

As long as 355.09 is support look for 386.27.

Alternative scenario

The downside breakout of 355.09 would call for 344.09 and 337.54.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (367.57) but above its 50 period moving average (362.27).

Supports and resistances

399.47 **

392.87 *

386.27 **

379.67

365.74 last

359.42

355.09 **

344.09 *

337.54 **

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