EUR/HUF may rise 144 - 198 pips

Our pivot point stands at 389.09.

Our preference

Rebound towards 392.06.

Alternative scenario

The downside breakout of 389.09 would call for 388.19 and 387.65.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 390.23 and 390.41).

Supports and resistances

393.14 **

392.60 *

392.06 **

391.52

390.08 last

389.44

389.09 **

388.19 *

387.65 **

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