USD/HUF may rise 172 - 252 pips

Our pivot point is at 354.42.

Our preference

The upside prevails as long as 354.42 is support.

Alternative scenario

Below 354.42, expect 353.07 and 352.28.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 354.86 and 354.83). Finally, the USD/HUF has crossed above its upper Bollinger band (355.48).

Supports and resistances

359.80 **

359.00 *

358.20 **

357.40

355.68 last

354.94

354.42 **

353.07 *

352.28 **

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