USD/HUF may rise 190 - 274 pips

357.97 is our pivot point.

Our preference

As long as 357.97 is support look for 362.02.

Alternative scenario

The downside breakout of 357.97 would call for 356.56 and 355.72.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 358.78 and 357.99).

Supports and resistances

363.71 **

362.87 *

362.02 **

361.18

359.28 last

358.53

357.97 **

356.56 *

355.72 **

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