USD/HUF may rise 217 - 290 pips

Our pivot point stands at 357.25.

Our preference

The upside prevails as long as 357.25 is support.

Alternative scenario

Below 357.25, expect 356.02 and 355.29.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 357.70 and 357.70).

Supports and resistances

362.75 **

362.02 *

361.28 **

360.55

358.38 last

357.74

357.25 **

356.02 *

355.29 **

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