USD/HUF may rise 219 - 313 pips

361.84 is our pivot point.

Our preference

The upside prevails as long as 361.84 is support.

Alternative scenario

The downside breakout of 361.84 would call for 360.26 and 359.31.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 363.09 and 363.09).

Supports and resistances

368.31 **

367.37 *

366.42 **

365.48

363.29 last

362.47

361.84 **

360.26 *

359.31 **

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